According to the Korea Herald, the Financial Supervisory Service of South Korea recently issued verbal guidance to domestic asset management companies, asking them not to expand the proportion of holdings of crypto companies such as Coinbase and Strategy in ETFs. The regulator reiterated that the "Emergency Countermeasures Related to Virtual Currency" issued in 2017 is still valid. The administrative guidance clearly prohibits formal financial institutions from holding, purchasing virtual assets, obtaining related collateral and making equity investments. Data shows that many products in South Korea's listed ETFs currently hold more than 10% of virtual asset-related targets. Among them, the "ACE US Stock Best-selling ETF" operated by Korea Investment Trust holds 14.59% of Coinbase. The Financial Supervisory Service's guidance is aimed at controlling the risk exposure of traditional financial products to virtual assets.
WLFI’s associated address added another 1,740 ETH 2 minutes ago, worth $6.5 million
According to the on-chain analyst @ai_9684xtpa, the WLFI-related address added another 1,740 ETH (worth $6.5 million) 2 minutes ago. In the past six days, the three WLFIs have bought a total of 5,608.48 ETH (about $19.46 million) at an average price of $3,469.66. This part of the position has made a floating profit of $1.457 million.
A new wallet bought another 32,640 ETH through OTC transactions, worth $122 million
According to Lookonchain monitoring, the newly created wallet 0x3dF3 bought another 32,640 ETH (worth US$122 million) through over-the-counter transactions, and a total of 43,787 ETH (worth US$163 million) was purchased in the past four days.
A newly created wallet withdrew 400 BTC from Binance 2 hours ago, worth $47.49 million
According to Onchain Lens monitoring, 2 hours ago, a newly created wallet withdrew 400 BTC (worth $47.49 million) from Binance.
Trend Research allocates ENS again after a year, withdraws $5.5 million worth of ENS from Binance
According to on-chain analyst @ai_9684xtpa, Trend Research, which is affiliated with LD Capital, has allocated ENS again after a year. 10 hours ago, it withdrew 203,105 ENS (worth $5.5 million) from Binance. It made a swing trade of 80,000 ENS a year ago, and according to the deposit and withdrawal prices, it left the market with a loss of $122,000.
According to The Block, Citadel Securities, one of the world's largest market makers, submitted a letter to the SEC Crypto Working Group, opposing the provision of securities rule exemptions for tokenized stocks. The company believes that such assets may lead to a loss of liquidity in traditional markets and create the risk of investors confusing the issuer. Citadel emphasized in the letter that although it supports technological innovation, using regulatory arbitrage to issue "securities-like" products is not real innovation. This position was echoed by Republican SEC Commissioner Hester Peirce, who made it clear that tokenized securities must still comply with existing securities regulations. SEC Chairman Paul Atkins revealed last week that the agency is studying an "innovation exemption" mechanism that allows new types of trading methods.
BNB breaks through $800, hitting a new all-time high
Market data shows that BNB has broken through $800 and is now trading at $803.43, with a 24-hour increase of 4.93%, setting a record high.
According to CoinDesk, the size of the Ethereum validator exit queue is about 519,000 ETH (worth about $1.9 billion), a record high since January 2024, and the current exit waiting time is more than 9 days. Analysis shows that this is mainly related to the profit-taking of stakers after the price of ETH rose 160% from the low point in April. Data shows that despite the exit wave, the demand for Ethereum staking remains strong-there are currently 357,000 ETH (worth $1.3 billion) waiting to enter the staking queue, and the waiting time is more than 6 days. This phenomenon is partly due to the continued increase in holdings by Ethereum treasury companies such as SharpLink Gaming, and the increase in institutional participation after the SEC clarified at the end of May that staking does not violate securities laws. Since late May, the number of active validators has increased by 54,000, reaching a historical peak of 1.1 million. Industry insiders pointed out that the surge in exit queues may also include the share of institutional investors who have unstaked to participate in the fundraising of ETH treasury companies.
According to Cointelegraph, WisdomTree announced that it will rename its stablecoin WUSD to USDW, and plans to launch it on other blockchains in the future. Currently, the stablecoin is only available on the Stellar platform.
Dan Tapiero's two funds will merge to form a new brand 50T and launch a new $500 million crypto fund
According to The Block, 10T Holdings (10T) and 1RoundTable Partners (1RT), two crypto growth equity funds founded by veteran macro investor Dan Tapiero, have completed a brand merger, established a new brand 50T and launched a new fund of US$500 million. The newly established 50T Fund V is a 10-year closed-end fund that focuses on growth equity investments in blockchain, cryptocurrency and Web3 infrastructure. The first fundraising is scheduled to be completed in the fourth quarter of this year. Under the merged brand, 50T currently manages US$2 billion in assets and retains a board seat in its portfolio. The company said its "calculated" centralized management strategy emphasizes structured downside protection and active governance.
Source: Polymarket is considering issuing its own stablecoin
According to CoinDesk, people familiar with the matter said that Polymarket, a crypto prediction market platform, is considering whether to launch its own customized stablecoin or accept a revenue-sharing agreement with Circle based on the platform's USDC holdings. It created its own stablecoin to control the reserve assets that support the platform's large amount of USDC and can generate income. A Polymarket representative said that the issue of stablecoins has not yet been decided. Sources said that from a regulatory perspective, it is easier for Polymarket to issue its own stablecoins. The person said that Polymarket locks in a large amount of stablecoin value and hopes to gain benefits from it. Its ecosystem is closed, and it only needs to exchange USDC or USDT for customized stablecoins. There is no need to worry about deposit and withdrawal channels. It is simple to build and easy to ensure security and control. A Circle spokesperson did not respond to comment.
According to The Block, 21Shares, Fidelity, Franklin Templeton, Galaxy, VanEck and WisdomTree all submitted revised proposals to the U.S. SEC on Tuesday, requesting that their spot Bitcoin and Ethereum ETFs, as well as future cryptocurrency ETFs, adopt a physical subscription and redemption mechanism. Analysts believe that this move shows that the SEC's attitude towards the approval of cryptocurrency ETFs is turning positive. Bloomberg ETF analyst James Seyffart said: "More positive signals, which shows that the U.S. SEC is taking a positive approach and is likely to be making adjustments to the details." Seyffart added that this mechanism is only applicable to "authorized participants" such as large Wall Street institutions and market makers - not retail traders - who can redeem their ETF shares for underlying assets.
According to the monitoring of the on-chain analyst Ember, Arca transferred 2.183 million PENDLE (worth $10.44 million) to Kraken 2 hours ago. It withdrew these PENDLE from Binance at a price of $3.8 a month ago, and now transferred all of them to Kraken at a price of $4.78, with an estimated profit of $2.13 million.
Square will launch native Bitcoin payments for some merchants starting today
Jack Dorsey announced on the X platform that his payment company Square will launch native Bitcoin payment services for its first few merchants starting today. Previously, at the Bitcoin 2025 conference held in Las Vegas in May 2025, they tried to use the Lightning Network for fast and low-cost transactions.
LetsBonk Grows Market Share to 64% on Solana Meme Token Launch Platform
According to The Block, the market share of Solana-based Meme token launch platform LetsBonk has increased from 5% a month ago to 64% at present, while the market share of competitor Pump.fun has dropped sharply from 90% to 24% during the same period. In the past week, the LetsBonk platform has issued about 150,000 tokens, an increase of about 14% from the 132,000 tokens issued in the previous week. Its single-day issuance on July 18 set a new record of 26,600 tokens. In addition, LetsBonk's trading volume last Friday was about 179 million US dollars, while Pump.fun was only 52 million US dollars. Just a month ago, LetsBonk's average daily trading volume was less than 10 million US dollars, while Pump.fun's average daily trading volume was almost 15 times that of LetsBonk. The increase in trading volume has led to an increase in fee income. Last week alone, LetsBonk generated more than 8 million US dollars in fee income. During the same period, Pump.fun's fee income was only about half of that.
According to The Block, the U.S. SEC's Division of Trading and Markets approved the "accelerated conversion" application of the Bitwise 10 Crypto Index ETF on Tuesday, but was subsequently stopped by SEC Assistant Secretary Sherry R. Haywood and announced that it would review it again. The Bitwise fund currently contains a market capitalization-weighted portfolio of mainstream cryptocurrencies such as BTC, ETH, and XRP. The suspension is similar to the SEC's similar treatment of Grayscale Digital Large Cap Fund LLC's ETF conversion application earlier this month. The SEC is considering establishing unified listing standards for cryptocurrency ETFs to simplify the approval process. Analysts believe that the suspension may be due to internal regulatory differences or waiting for the introduction of a new framework.
21Shares Submits S-1 Documents Related to ONDO ETF to the US SEC
According to The Blcok, 21Shares has filed an application to launch an ETF that tracks ONDO, the native token of RWA platform Ondo Finance. According to a report from the U.S. Securities and Exchange Commission (SEC), the company filed an S-1 registration statement on Tuesday. Founded in 2021 by former Goldman Sachs employees Nathan Allman and Pinku Suran, Ondo Finance focuses on the tokenization of real-world assets such as U.S. Treasuries and money market funds. The platform is associated with the World Liberty Financial DeFi project associated with President Trump, which has purchased approximately $500,000 worth of ONDO tokens for its multi-asset reserves.
BTC breaks through $120,000, up 0.93% on the day
The OKX market data shows that BTC has just broken through $120,000 and is currently trading at $120,023.50 per coin, with a daily increase of 0.93%.
a16z leads $15 million seed round for Poseidon to advance decentralized data layer for AI
According to The Block, the well-known venture capital firm Andreessen Horowitz (a16z) led a $15 million seed round of financing for the AI decentralized data layer project Poseidon. Poseidon is built on the Story Protocol and aims to unlock high-quality training data for the "next generation of physical AI." It is reported that Poseidon was incubated by the Story team and is committed to solving the problem of obtaining high-quality, available and legally authorized training data in the field of AI. Chris Dixon, founder of a16z Crypto, said that Poseidon's decentralized data layer will establish a new economic foundation for the Internet, incentivizing creators and suppliers to provide diverse data inputs for the next generation of intelligent systems. The project will provide AI developers with IP-secure, legal and compliant access to training data through the Story protocol's programmable intellectual property layer and immutable registry.
Coinbase adds BNKR, JITOSOL, and MPLX to its asset roadmap
According to the news released by Coinbase Assets on the X platform, three assets, BankrCoin (BNKR), Jito Staked SOL (JITOSOL) and Metaplex (MPLX), have been added to the Coinbase asset roadmap today, and the relevant contract addresses have been announced. The official said that the trading of these assets will be launched after market-making support and technical infrastructure are in place, and the specific launch time will be announced separately.
US President Trump: Interest rates should be lowered by 3 percentage points, or even lower
According to Jinshi, US President Trump talked about Powell: He will be out soon anyway. Trump also said: Powell keeps interest rates too high. The economy is strong. Interest rates should be reduced by 3 percentage points, or even lower, and interest rates should be maintained at 1%. Powell's policies are affecting the housing market. US Treasury Secretary Benson also said: The Fed should cut interest rates now. The Fed has a major "mission expansion", which has led to high government spending.
Ethereum co-founder Vitalik Buterin wrote on social media that the reason why many paradoxes of utilitarianism are confusing is that its "unlimited utility" setting conflicts with human emotional mechanisms. He pointed out that humans actually have an upper limit to their positive and negative emotional experience in a certain situation, so the "unlimited utility" assumption in theoretical models is often contrary to intuition.
OneFootball to Launch Token Sale on CoinList on July 24
According to the CoinList announcement, the OneFootball (OFC) token sale will officially start at 17:00 UTC on July 24. The FDV of this token sale is 50 million US dollars, the token price is 0.05 US dollars, 25% will be released at TGE, and the rest will be released linearly within 12 months, with a minimum purchase amount of 100 US dollars.
According to The Block, Fogo, a Layer 1 blockchain founded by former Wall Street executives, announced on Tuesday that its public beta network is officially online. Fogo aims to introduce the execution speed of traditional finance into the field of decentralized finance without sacrificing decentralization and composability. The team said that the Fogo network can achieve a 40-millisecond block time and provide unique advantages for on-chain trading products through native infrastructure and vertical integration. Other innovations include reducing MEV risks, co-location node architecture for real-time transaction execution, and improved session-based account management experience. Fogo plans to be the first to fully deploy the Firedancer validator client. It has currently adopted the Frankendancer hybrid client and will gradually transition to Firedancer.
FBI ends investigation into Kraken founder Jesse Powell and returns all seized equipment
According to Fortune, the FBI has officially terminated its investigation into Kraken founder Jesse Powell and returned dozens of devices seized from his residence two years ago. The case stems from an internal management dispute at Verge, a non-profit organization he founded, and has nothing to do with Kraken operations. Powell said the move has caused great harm to his personal and professional career, and will continue to file civil lawsuits against Verge board members, emphasizing that his "no fault" has been proven. The FBI did not comment on this.
Consensys plans to lay off 49 employees, about 7% of its total workforce
According to Bloomberg, Consensys, a software company led by one of the co-founders of the Ethereum blockchain, plans to lay off 49 employees, about 7% of its total workforce. The reorganization is aimed at boosting the company's profitability. Consensys recently acquired a startup with about 30 employees, who will remain on the payroll and the company will continue to recruit new employees. Consensys laid off 20% of its employees last year due to regulatory uncertainty and the macroeconomic environment. Currently, the regulatory environment for the U.S. crypto industry has become more relaxed due to President Trump's re-election, and Consensys' lawsuit against the U.S. Securities and Exchange Commission has been withdrawn. Some crypto companies are adjusting their business structures in preparation for initial public offerings (IPOs).
According to Bloomberg, the eighth largest bank in the United States, PNC Financial Services Group, has reached a cooperation with the cryptocurrency exchange Coinbase to provide digital currency services to its bank customers. In the early stage of the cooperation, PNC's wealth and asset management customers can directly trade cryptocurrencies through their accounts without switching platforms. PNC also plans to explore the application of digital assets in areas such as corporate payments and fund management. PNC executives said that with the popularity of cryptocurrencies in payment scenarios, it is expected to support customers to settle in digital currencies in the future. In addition, PNC expects that stablecoin-related businesses will be led by industry alliances in the future, and banks will also actively participate.
Telegram's built-in crypto wallet TON Wallet is now available to 87 million US users
According to CNBC, Telegram's built-in TON Wallet crypto wallet went live in the United States this week, and 87 million American users can now send, receive and manage cryptocurrencies directly in the app without additional downloads or logins. The self-hosted wallet supports stablecoin transfers, token exchanges, and zero-fee coin purchases through MoonPay. More than 100 million users worldwide have activated the wallet in 2024, and the launch in the United States was previously postponed due to regulatory uncertainty. Telegram's expansion is expected to intensify competition with platforms such as Cash App and Coinbase.
On-chain data shows that at 21:18 Beijing time, two Bitcoin Trust addresses under Grayscale transferred 235.99 and 78.66 BTC to Coinbase Prime respectively, totaling 314.65 BTC, equivalent to approximately US$37.57 million at the current price.
U.S. Congress releases draft discussion paper on cryptocurrency market structure
The U.S. Congress released a draft discussion paper on the cryptocurrency market structure.
Powell said nothing about monetary policy in his latest meeting speech
Federal Reserve Chairman Jerome Powell delivered a welcome speech at a regulatory conference today, but as expected, he did not make any controversial or news-making remarks. In his brief prepared remarks, Powell did not give any monetary policy hints or mention the Trump administration's pressure campaign. This is not surprising, as Fed officials are in a "quiet period" before their July 29-30 meeting and are not allowed to make public comments on interest rates and the economy. However, he said he welcomed comments on bank regulatory rules and capital issues. "The Federal Reserve is a dynamic institution. We are open to new ideas and feedback on how to improve the capital framework for large banks, and I look forward to hearing from today's participants," Powell said.
ZachXBT reveals the inside story of Crypto Beast manipulating the $ALT crash
On-chain detective ZachXBT said in a post that Crypto Beast manipulated the market and deceived fans by lying that it had nothing to do with the $ALT market value plummeting from $190 million to $3 million. The investigation showed that on July 14, 45 related internal wallets sold more than $11 million worth of $ALT in one day, causing the price of the coin to plummet from $0.19 to $0.003. The relevant promotion and wallet information has now been deleted, and the flow of funds on the chain has also been traced to multiple exchanges.
Bessant: There is no reason to let Powell step down as Fed chairman
U.S. Treasury Secretary Benjamin Bessant has publicly supported Federal Reserve Chairman Jerome Powell amid frequent attacks from Trump administration officials, saying he sees no reason to step down at this time. "There's nothing to suggest that he should resign now, his term ends in May next year," Bessant said in an interview with Fox Business Channel on Tuesday. "If he wants to stay the course, I think he should do that. If he wants to leave earlier, I think that's fine." Powell has been criticized by Trump for months for leading the Fed to keep interest rates unchanged and worry about the inflationary impact of the administration's higher tariffs. This month, several Republicans also questioned the expensive renovation project of the Federal Reserve building. Bessant called on Monday for an internal review of the Fed's non-monetary activities, including the renovation project. "There's a real opportunity for him now, and that's where his legacy will be - to rationalize the non-monetary policy functions of the Federal Reserve," Bessant said.
Powell: Fed is a dynamic institution, willing to listen to new ideas
Fed Chairman Powell: The Fed is a dynamic institution that is willing to listen to new ideas and feedback on how to improve the capital framework of large banks. Large banks must be able to compete freely, including with non-bank institutions and banks in other jurisdictions. Fed Chairman Powell did not comment on the economic or monetary policy outlook in his speech.
According to Sing Tao Daily, Hong Kong Customs today cracked a case of suspected money laundering using smuggled cash and virtual assets, involving an amount of about 1.15 billion yuan, and arrested a local man and a non-local man. It is reported that Hong Kong Customs officers targeted a 37-year-old local man and a 50-year-old non-local man and launched a wealth investigation. They found that the two smuggled cash out of the country and frequently and quickly conducted huge stablecoin and legal currency transactions with funds of unknown origin, which was extremely inconsistent with their background and financial situation. They were suspected of money laundering activities. During the operation, customs officers seized a batch of suspected items involved in the case, including mobile phones, tablets and bank cards. The case is still under investigation. The two arrested persons are currently on bail pending investigation, and more arrests are not ruled out.
According to GlobeNewswire, SharpLink Gaming (NASDAQ: SBET) purchased 79,949 Ethereum at an average price of $3,238 per ether between July 14 and July 20, with a total amount of $258 million. As of July 20, 2025, its Ethereum (ETH) holdings increased to 360,807, an increase of 29% from the previous week, setting a record for the largest single-week increase in history. Since the launch of the digital treasury strategy on June 2, 2025, the company has received 567 ETH rewards through staking.
Nano Labs Increases BNB Strategic Reserve to $90 Million, Plans to Upgrade Reserve Strategy
According to Globe Newswire, Nano Labs Ltd (NASDAQ: NA), a provider of Web 3.0 infrastructure and product solutions, announced that the company has significantly increased its BNB holdings to 120,000, with a current total value of approximately US$90 million. Recently, Nano Labs purchased an additional 45,684.9862 BNBs through over-the-counter transactions, with an average purchase price of approximately US$764 per coin. The company's current average BNB purchase cost is US$707. Nano Labs stated that in the future, it will further strengthen its BNB strategic reserves through various means such as continuing to increase its holdings of BNB, acquiring controlling stakes in entities with BNB as its core reserve assets, and investing in companies that focus on holding BNB.
U.S. Treasury Secretary Benson: Annual tariff revenue is expected to reach $300 billion
U.S. Treasury Secretary Benson said tariff revenues are "huge" and could account for 1% of GDP. Annual tariff revenues are expected to reach $300 billion. Tariff revenues could reach $2.8 trillion over the next decade. By the first quarter of 2026, GDP growth will reach 3% or more.
Archax acquires German digital asset firm DDA to expand European crypto ETP layout
According to CoinDesk, British digital asset exchange Archax will acquire German regulated crypto asset management company Deutsche Digital Assets (DDA) to strengthen its business layout in major European financial markets such as the UK, Germany and France. DDA currently manages approximately $70 million in assets and focuses on distributing crypto exchange-traded products (ETPs) through European banks and asset management institutions. The acquisition will bring Archax new licenses such as portfolio management and investment consulting under the supervision of Germany's BaFin, enabling it to better serve EU institutional clients.
Strategy Announces Proposed Initial Public Offering of STRC Shares
Strategy (NASDAQ: MSTR, STRK, STRF, STRD) announced plans to issue 5,000,000 shares of variable rate Series A perpetual extended preferred stock (STRC stock) and conduct an initial public offering, subject to market and other conditions. The proceeds will be used for general corporate purposes, including bitcoin acquisitions and working capital. STRC stock will have an initial annualized monthly dividend rate of 9.00%, and the company has the right to adjust the dividend rate in accordance with relevant regulations. Morgan Stanley, Barclays, Moelis & Company and TD Securities are acting as joint book-running managers for the offering. The offering will be made by means of an effective registration statement with the SEC and will be sold only by prospectus.
Binance: Yala’s Alpha airdrop points requirements are 238 and 200 respectively
Binance announced that the trading of Yala (YALA) will be opened at 12:00 (UTC) on July 22, 2025. Eligible users can claim 200 YALA tokens airdropped through Binance Alpha points on the Alpha event page within 24 hours after the start of trading. The airdrop is divided into two stages: at least 238 points must be held in the first 18 hours, and the point threshold is reduced to 200 points in the last 6 hours. If the reward is not issued, the threshold will automatically decrease by 10 points per hour. Receiving the airdrop will consume 15 points, and users must confirm the claim within 24 hours, otherwise it will be deemed to be abandoned.
