OKX founder: We are working hard to reduce the interference of risk control false positives on users
OKX founder Star Xu said on the X platform that the OKX team is working hard to reduce the interference of risk control false positives on users. The general situation is: only about 1% of users will receive inquiries about the source of funds or past work and residence information, and 99% of users will not be affected. The reasons for false positives are usually: using a browser or VPN that accesses the dark web, a single device abnormally logs into multiple accounts, the user's name is the same as the sanctions or political figures database, and the on-chain deposit and withdrawal is related to the address or protocol of money laundering. These inquiries are not to collect private information, nor to cooperate with judicial investigations, but only to clarify the facts and prevent the platform from being abused. Users can complete the inquiry by providing information truthfully, and the security of assets and accounts will not be affected. There will be no situation where the withdrawal of coins is not allowed. The platform rarely freezes the withdrawal of coins due to judicial freezing or related to terrorist finance, drug trafficking, sanctions, etc. OKX will improve the system accuracy and inquiry experience as soon as possible, and welcome users to feedback on problems.
Musk confirms that “the American party will embrace Bitcoin”
In response to the question of "whether the American party will embrace Bitcoin", Musk responded on the X platform: "Fiat currency is hopeless, so yes."
Hong Kong Treasury Secretary: Aim to issue stablecoin licenses this year
According to Jinshi.com, the Stablecoin Ordinance of Hong Kong, China, will come into effect in August. The Director of the Hong Kong Treasury Bureau, Xu Zhengyu, said that the HKMA is currently consulting the market on the implementation of the guidelines for the regulations. The guidelines will be announced within this month. The specific content will involve anti-money laundering and other related requirements. He also stated that the number of stablecoin licenses approved will be in the single digits. He hopes to receive applications after the regulations come into effect, and the goal is to issue licenses within this year. As for whether financial institutions can issue stablecoins pegged to the RMB after obtaining licenses, he said that if it involves currencies in other jurisdictions, it will be discussed with relevant institutions.
According to The Block, LetsBONK, the Meme coin launch platform on the Solana chain, surpassed Pump.fun for the first time in terms of daily token issuance, number of graduated tokens, and trading volume. Adam_Tehc, creator of the Dune dashboard, pointed out that LetsBONK's token issuance was already ahead within 24 hours from Sunday morning; by Sunday afternoon, the gap had widened further, with LetsBONK recording about 15,600 token issuances and Pump.fun 11,500. Data shows that on Sunday afternoon, LetsBONK's market share reached 49.80%, while Pump.fun's was 40.90%. LetsBONK's 24-hour trading volume increased by $86 million, but Pump.fun had more than twice as many active traders as LetsBONK.
Jack Dorsey launches decentralized peer-to-peer chat application BitChat
Block CEO Jack Dorsey announced the launch of the decentralized peer-to-peer chat application Bitchat. He wrote on the X platform: "I did a project over the weekend to learn about Bluetooth mesh networks, relay and store-and-forward modes, message encryption models, and other things. Bitchat: Bluetooth mesh chat... with IRC style." According to its self-reading file on GitHub, Bitchat is a secure, decentralized peer-to-peer chat application that runs over a Bluetooth Mesh network. It does not require the Internet, servers, or phone numbers, only pure encrypted communication.
U.S. House Ways and Means Committee to Discuss Crypto Tax Framework at Hearing on Wednesday
According to crypto journalist Eleanor Terrett, the U.S. House Ways and Means Committee’s Oversight Subcommittee will hold a hearing on Wednesday titled “Making America the Global Cryptocurrency Capital,” focusing on establishing a 21st century digital asset tax policy framework.
According to Jinshi, Trump said on Sunday that some trade agreements have been reached with trading partners and that he will write to other countries to inform them that tariff rates will increase. U.S. Commerce Secretary Lutnick told reporters that higher tariffs will take effect on August 1, but Trump is "working on rates and agreements now." In April, Trump announced a 10% basic tariff on most countries, as well as additional tariffs of up to 50%, although he later postponed the effective date of tariffs on all countries to July 9 (except the 10% tariff). Lutnick's remarks hinted at a three-week tariff "reprieve." U.S. Treasury Secretary Bensont previously made similar remarks, saying that countries that have not reached an agreement will face tariffs from August 1, but denied that the date is a "new deadline."
UAE authorities clarify: Golden Visa eligibility does not include cryptocurrency investors
According to WAM, the UAE Federal Authority for Identity, Citizenship, Customs and Ports (ICP), Securities and Commodities Authority (SCA) and Virtual Asset Regulatory Authority (VARA) jointly issued a statement denying reports circulating on certain websites and social media platforms that the UAE grants golden visas to digital currency investors. ICP said that the issuance of golden visas is based on a clear and officially approved framework and standards, which does not include digital currency investors. Those who meet the conditions include real estate investors, outstanding talents, etc. SCA reiterated that financial regulation is in accordance with international standards, and digital currency investment has specific regulations and has nothing to do with golden visas. Investors are reminded to obtain information from official channels. VARA also denied that Dubai issued golden visas to virtual asset investors, urged investors to only work with regulated companies, and clarified that TON was not licensed by them. The three parties called on the public to be cautious and refer to official channels for information. Earlier yesterday, Toncoin cooperated with the UAE to provide 10-year golden visas to TON pledgers.
CZ responded to the topic of "Toncoin cooperates with the UAE to provide 10-year golden visas to TON stakers" on the X platform and said: "If this is true, we will definitely work hard to ensure that BNB also enjoys the same treatment."
According to Token Unlocks data, CHEEL, APT, IMX and other tokens will have large amounts of unlocking next week, including: Cheelee (CHEEL) will unlock about 20.81 million tokens at 8:00 a.m. Beijing time on July 13, worth about 17.4 million U.S. dollars; Aptos (APT) will unlock about 11.31 million tokens at 10:00 p.m. Beijing time on July 12, which is 1.75% of the current circulation and worth about 49.9 million U.S. dollars; Immutable (IMX) will unlock about 24.52 million tokens at 8:00 a.m. Beijing time on July 11, which is 1.31% of the current circulation and worth about 10.1 million U.S. dollars; io.net (IO) will unlock about 13.29 million tokens at 8:00 p.m. Beijing time on July 11, which is 7.87% of the current circulation and worth about 9.1 million U.S. dollars; Movement (MOVE) will unlock about 50 million tokens at 8:00 p.m. Beijing time on July 11, which is 1.92% of the current circulation and worth about 7.7 million U.S. dollars; Delysium (AGI) will unlock approximately 106 million tokens at 8:00 a.m. Beijing time on July 11, accounting for 5.97% of the current circulation and worth approximately US$5.4 million; Neon (NEON) will unlock approximately 53.91 million tokens at 8:00 a.m. Beijing time on July 7, accounting for 22.51% of the current circulation and worth approximately US$5 million.
According to the on-chain analyst Yu Jin, the short position of the "insider whale" @qwatio was liquidated again in this wave of price increases. It seems that he is determined to short and will not give up shorting until all the margin is liquidated. In fact, his position was liquidated to only $43.68 million on the 3rd, but the BTC price later fell back a little, and his seriously losing position recovered a little, so he added the position again. The opening margin of the short position of $16.28 million this time is now only $800,000, and he has lost $15.48 million in this short position. The current residual position after multiple liquidations is $47.34 million: 40x short 368 BTC, worth $40.05 million, opening price $107,724, liquidation price $109,196; 25x short 2,846 ETH, worth $7.28 million, opening price $2,452, liquidation price $2,611.
On-chain analyst: WLFI test to add liquidity is false news
Chain analyst AI Auntie (@ai_9684xtpa) posted on the X platform that the WLFI test to add liquidity is false news. The screenshot of 150 million $WLFI adding liquidity circulated in the community and Twitter, in fact, by checking the block browser details, you can find that the address has added "150 million WLFI fake coins and 0 WLFI real coins", so that this transaction is still displayed in the LP section. The CA of the real WLFI coin is 0xdA5e1988097297dCdc1f90D4dFE7909e847CBeF6, the token is still in a non-transferable state, and the transferable proposal is still under voting, so beware of fraud.
Source: Negotiations on India-U.S. mini-trade agreement completed, average tariff rate may be 10%
According to CNBC, citing sources, the average tariff rate under the small trade agreement between India and the United States may be 10%, and India and the United States may make a final decision on the trade agreement in the next 24 to 48 hours. At present, the negotiations on the small trade agreement between India and the United States have been completed, and the negotiations on the larger trade agreement will begin after July 9.
US Treasury Secretary Benson: It will be up to the Fed to decide whether to cut interest rates
According to Jinshi, U.S. Treasury Secretary Benson said: It will be up to the Federal Reserve to decide whether to cut interest rates.
A suspected Abraxas Capital marked address transferred 1,000 BTC to Kraken
According to Arkham monitoring, about 5 minutes ago, a suspected Abraxas Capital marked address transferred 1,000 BTC worth $108.23 million to Kraken.
According to the monitoring of on-chain analyst AI Aunt (@ai_9684xtpa), the giant whale 0x1f7...7a9b8 is cyclically long on ETH. In the past 2 hours, it has established a position of 2304.3 stETH worth US$5.78 million and a cost of US$2,510 through the method of "buying stETH > depositing into Compound to borrow USDC > continuing to buy". It is currently pledged 3503.23 stETH and 10 WBTC to borrow 7.03 million USDC, with a health level of 1.22.
Metaplex (MPLX) is now available on Binance Alpha. Users with at least 140 Binance Alpha points can claim 400 MPLX tokens in an airdrop. First come, first served, until the airdrop pool is full or the event ends. It is worth noting that claiming the airdrop will consume 15 Binance Alpha points. Users must confirm their claim within 24 hours on the Alpha event page, otherwise they will be deemed to have given up the airdrop.
Hong Kong media: Circle's NYSE listing increased more than fivefold in one month
According to Hong Kong media Hong Kong Commercial Daily, Circle, the world's second largest stablecoin USDC issuer, was listed on the New York Stock Exchange on June 5, and recorded a more than 5-fold increase in more than a month. It is reported that Everbright Holdings has become a shareholder of Circle in 2016, and China Renaissance Capital has invested in Circle in 2018. Analysis points out that the "iPhone moment" of stablecoins is approaching investors at a speed visible to the naked eye, and the market generally believes that stablecoins are expected to reshape the global payment and financial landscape.
Michael Saylor releases Bitcoin Tracker information again, and may disclose holdings data next week
Michael Saylor, executive chairman of Strategy (formerly MicroStrategy), once again released information about Bitcoin Tracker on the X platform, writing: “Sometimes you just need to HODL.” According to previous rules, Strategy always discloses information about increasing its holdings of Bitcoin the day after the relevant news is released.
According to Zhitong Finance, a research report by CITIC Securities pointed out that the tokenization of U.S. stocks has exploded. Bybit, Robinhood, and Kraken announced the launch of U.S. stock tokenization services on the same day; XBIT and xStocks, the "buy coins directly to U.S. stocks" model without KYC is expected to subvert the industry model and intensify competition in the virtual asset trading service market. Hong Kong is striving to build a global digital asset innovation center, and financial institutions in Hong Kong are actively deploying virtual asset trading service businesses. More than 41 securities firms have completed the No. 1 license upgrade. As an incremental business, virtual asset trading service business may be deployed in Hong Kong securities firms in the future, which is expected to bring more than 10 billion IT transformation needs. At the same time, as the pioneer of RWA, the exploration and practice of U.S. stock tokenization in compliance supervision, market expansion, infrastructure construction, etc. have provided key references and driving forces for the continuous deepening of the entire RWA ecosystem.
According to Zhitong Finance, Lloyds Bank of the United Kingdom believes that the minutes of the Fed's June meeting to be released next Wednesday are not expected to change the market's expectation that interest rates will remain unchanged at the July meeting, and interest rate adjustments are more likely to take place in September. The Fed's dot plot is still expected to predict two rate cuts this year, but there are clear differences among policymakers, ranging from three rate cuts to no change.
The Financial Technology Research Institute of Renmin University of China wrote an article titled "The Rise of Stablecoins: Catalyst for the New Era of Digital Finance", which pointed out that for emerging economies such as China, the development of stablecoins brings three inspirations: First, we should accumulate experience through pilot projects in closed scenarios such as cross-border e-commerce, regional trade and offshore settlement; second, we should promote both technology and compliance, strengthen reserve transparency and on-chain security, and promote the mutual communication and recognition of digital RMB and controllable stablecoins; third, we should actively participate in global governance mechanisms such as BIS and IMF, jointly promote the formulation of digital financial rules, and strive for more interests and voice in developing countries.
According to the 21st Century Business Herald, the popularity of virtual asset trading has spread from Hong Kong stocks to A-shares. Recently, many listed companies in Shanghai and Shenzhen have been frequently asked on interactive platforms whether they have deployed stablecoin business. Industry insiders believe that the opening of policies, the surge in efficiency and strategic positioning have jointly driven the market's optimism about the stablecoin business. In particular, the Hong Kong Stablecoin Ordinance, which will officially take effect on August 1, is the world's first comprehensive regulatory framework for legal currency stablecoins. Gan Tian, CEO of China Asset Management (Hong Kong), said: "The stablecoin business is currently in a critical stage from policy implementation to scenario pilot." The Hong Kong Web3 ecosystem is ushering in new development opportunities, showing strong growth momentum and driving the local ecosystem towards sustainable development.
