Today's news tips:
Japanese public company Remixpoint to pay its CEO in full in Bitcoin
Musk's wealth evaporated by about $15 billion in one day
Grayscale will add Ondo and Hedera to DeFi Fund and Smart Contract Fund in Q2, and remove Polkadot
Bonk.fun Takes 55% of Solana Token Issuance Market
US SEC Delays Decision on Fidelity Spot Solana ETF
Regulatory/Macro
Japanese public company Remixpoint to pay its CEO in full in Bitcoin
Remixpoint, a Japanese listed company, announced that it will pay its CEO's salary in full in Bitcoin, the first attempt of its kind in Japan. The company said the move aims to bind the CEO to the economic risks and returns of shareholders through Bitcoin and establish a new model of "shareholder-perspective management." Remixpoint believes that Bitcoin is its core asset and is committed to promoting the integration and development of cryptocurrency, energy and Web3. The CEO said that this decision is a symbol of "being in the same boat" with shareholders, and the company will continue to explore the next generation of financial strategies based on cryptocurrency. Earlier news, Japanese listed company Remixpoint held 16.032 billion yen in BTC and 17.113 billion yen in crypto assets such as ETH, SOL, XRP and DOGE.
Hong Kong-listed Jinyong Investment (01328.HK) rose by more than 600% today, with the highest price rising to HK$15. It is now trading at HK$12.4, up more than 531%. Yesterday, Hong Kong-listed Jinyong Investment and AnchorX reached a strategic cooperation to explore the application of stablecoin AxCNH.
"Yiwu merchants begin to collect stablecoins" ranked fourth on Baidu's hot search list
The official page shows that "Yiwu merchants begin to accept stablecoins" ranked fourth on Baidu's hot search list. Earlier, according to 21st Century Business Herald, there were market reports that Yiwu has accepted stablecoins to pay for foreign trade goods. The reporter went deep into Yiwu and found that only a few merchants supported stablecoin payments.
Musk's wealth evaporated by about $15 billion in one day
According to Jinshi, Tesla (TSLA.O) shares plunged nearly 7% on Monday after Musk threatened to establish a third political party in the United States, the "American Party", over the weekend, and the net worth of the world's richest man evaporated by about $15 billion in one day. Investors are worried that their company may lose federal subsidies due to the conflict with Trump, and then face more obstacles. According to Forbes estimates, with the decline in Tesla's market value, Musk's personal wealth is now $391 billion, down from $405 billion the day before. Despite the decline, he still maintains a lead of more than $100 billion compared with the second richest man. Tesla's stock price has fallen 31% since Trump took office in January this year. While the "American Party" may still affect the political dynamics of the United States, its direct impact on investor sentiment is undoubtedly negative. At present, the market message is clear: stakeholders prefer the world's richest man to avoid Capitol Hill and focus back on the factory floor.
Dubai approves tokenized money market fund backed by Qatar National Bank and DMZ Finance
According to CoinDesk, the Dubai Financial Services Authority (DFSA) approved the QCD Money Market Fund (QCDT) supported by Qatar National Bank (QNB) and DMZ Finance, becoming the first tokenized money market fund approved for issuance in the Dubai International Financial Center (DIFC). The fund's investment strategy and asset initiation are led by Qatar National Bank, while DMZ Finance provides technology to support its digital architecture. The fund aims to bring traditional assets such as U.S. Treasuries on-chain to serve a wide range of institutional applications, including bank-qualified collateral, stablecoin support, exchange reserves, and Web3 payment infrastructure. Supporters said that with its regulatory compliance, yield stability, and on-chain transparency, they expect the fund to promote adoption by financial institutions and cryptocurrency-native institutions.
According to Jinshi, on the 7th local time, US President Trump signed an executive order to extend the so-called "reciprocal tariff" suspension period, postponing the implementation time from July 9 to August 1. Earlier today, starting from the early morning of the 8th Beijing time, Trump successively published his tariff letters to many countries on social media. As of press time, he has issued the latest tariff rate threats to 14 countries. Among them, Japan, South Korea, Kazakhstan, Malaysia and Tunisia face a tariff rate of 25%; South Africa and Bosnia have a tariff rate of 30%; Indonesia has a tariff rate of 32%; Bangladesh and Serbia have a tariff rate of 35%; Thailand and Cambodia have a tariff rate of 36%; Laos and Myanmar have a tariff rate of 40%. The above tariffs will take effect on August 1. In addition, according to Jinshi, citing Politico, the United States proposed a trade agreement plan to impose a 10% tariff on the European Union with restrictive clauses.
US Court Ends Coin Center and US Treasury Appeal Regarding Tornado Cash
According to Cointelegraph, the United States Court of Appeals for the Eleventh Circuit rejected the appeal of the crypto advocacy organization Coin Center, which was aimed at the sanctions imposed by the U.S. Treasury Department's Office of Foreign Assets Control (OFAC) on the Tornado Cash mixing service in 2022. Documents filed on Thursday showed that the appellate court approved the motion to revoke the lower court's ruling and instructed that the case be sent back for retrial, which was part of the joint filing by Coin Center and the U.S. Treasury Department. The court said that the dismissal of the appeal basically means the end of Coin Center's legal challenge to OFAC. Peter Van Valkenburgh, executive director of Coin Center, said that the lawsuit surrounding the statutory authority of Tornado Cash sanctions has officially ended, and the government has no intention of continuing to promote sanctions and defending its dangerously broad interpretation.
US SEC Delays Decision on Fidelity Spot Solana ETF
According to market news, the U.S. Securities and Exchange Commission (SEC) has postponed its approval decision on the Fidelity Spot Solana ETF.
Viewpoint
According to Ming Pao, Yao Zhisheng, a member of the Standing Committee of the National Committee of the Chinese People's Political Consultative Conference, said that stablecoins are a major opportunity for Hong Kong's financial development. In terms of international market payment needs, there will not be too many application scenarios for Hong Kong dollar stablecoins, and the usage volume cannot be too large. For Hong Kong, the development of stablecoins is not mainly because of how important the Hong Kong dollar stablecoin itself is, but because Hong Kong can take the lead in the field of stablecoins for the internationalization of the RMB, become the main platform for offshore RMB stablecoins, and thus create a global stablecoin issuance hub. The biggest opportunity for Hong Kong's stablecoins is to develop RMB stablecoins. Yao Zhisheng added that he would recommend that the SAR government seek central support to develop an officially certified offshore RMB stablecoin in Hong Kong to enhance market confidence in offshore RMB stablecoins and promote their development, so as to make offshore RMB stablecoins bigger and stronger.
Circle executives: 14 stablecoin issuers and 39 CASPs have obtained EU MiCA licenses
According to Patrick Hansen, Circle's EU policy director, MiCA regulations have been implemented for 6 months for crypto asset service providers (CASPs) and 12 months for stablecoins. There have been new developments in July: 14 institutions from 7 EU countries have been authorized to issue stablecoins, including 3 in France, 1 or 3 in Germany and other countries. They have issued a total of 20 electronic currency tokens or single legal currency stablecoins, 12 in euros, 7 in US dollars, and 1 in Czech koruna. 39 CASPs have been licensed by MiCA, distributed in 9 EU/EEA countries, covering traditional finance (such as BBVA, Clearstream, CACEIS), financial technology (such as N26, Trade Republic, eToro, Robinhood), native crypto companies (such as Coinbase, Kraken, Bitpanda, OKX, Bitstamp) and other types. Currently, there are 0 issuers of asset reference tokens (ART), and the market lacks relevant demand. About 30 crypto asset white papers have been notified, the transition period in many countries has ended, the Netherlands Financial Markets Authority is leading in issuing licenses, but more than 35 companies have been listed as non-compliant CASPs by Italian regulators.
According to Jinshi, former Fed governor Walsh, a popular candidate for the next Fed chairman, said that the Fed's practice of keeping the monetary policy interest rate unchanged has frustrated the US president, and I deeply sympathize with this. The interest rate should be lowered to a lower level. Trump's tariffs will not cause inflation.
Project News
Grayscale will add Ondo and Hedera to DeFi Fund and Smart Contract Fund in Q2, and remove Polkadot
Grayscale Investments announced the latest adjustment results of its multi-asset fund in the second quarter of 2025. The adjustment involves three funds: DeFi Fund (DEFG), Smart Contract Fund (GSC Fund) and Decentralized AI Fund (AI Fund). Among them: DEFG Fund added Ondo (ONDO), and the main holdings after adjustment include Uniswap (UNI, 34.01%), Aave (AAVE, 30.74%), Ondo (ONDO, 18.22%), etc. GSC Fund added Hedera (HBAR) and removed Polkadot (DOT). The main holdings after adjustment are Ether (ETH, 30.22%), Solana (SOL, 29.87%), Cardano (ADA, 18.57%), etc. The AI Fund maintains its existing asset ratio, with major holdings including Bittensor (TAO, 29.10%), NEAR Protocol (NEAR, 28.41%), Render (RENDER, 17.34%), etc.
KuCoin CEO BC Wong said that he discussed the development of RWA and stablecoins with several founders. He stressed that building trust is inseparable from compliance, and cited BCG's forecast that by 2030, the scale of tokenized RWAs may reach 16 trillion US dollars. But he pointed out that this potential may not be realized if the infrastructure such as stablecoins is not solid enough. At the same time, he believes that the industry is still in its early stages and needs to be promoted in the right way. However, the on-chain detective ZachXBT questioned this, saying that KuCoin had repeatedly ignored formal requests from law enforcement agencies and did not take freezing measures when stolen funds were transferred to its exchange in major incidents, questioning its statement of "building trust through compliance."
Binance: Users with at least 200 Alpha Points can participate in the BOOM TGE event
According to Binance’s official announcement, users with at least 200 Alpha points can participate in the Boom (BOOM) TGE event through the Alpha event page. Participating in the event will consume 15 points.
Binance Alpha to List PROMPTALE AI (TALE)
Binance Alpha will launch PROMPTALE AI (TALE) on July 11. Eligible users can use Binance Alpha points to claim the airdrop on the Alpha event page after trading is launched.
The BONK community announced that the number of BONK holders has reached 949,892 and is expected to exceed 1 million soon. When the number of holders reaches 1 million, 1 trillion BONK tokens will be destroyed, worth approximately $22.81 million.
According to The Block, according to the countdown information on the Gate exchange website, the Solana ecosystem Meme coin issuance platform Pump.fun will start selling its native token PUMP on July 12. This time, 15 billion PUMPs will be issued, accounting for 15% of the total supply (maximum supply of 1 trillion), each priced at 0.004 USDT, and the sales period is 72 hours. However, Gate has deleted the PUMP token sale page information.
Important data
Bonk.fun Takes 55% of Solana Token Issuance Market
According to the latest data, Bonk.fun has surpassed Pump.fun to become the leading token issuance platform in the Solana ecosystem, with a market share of 55.2%. Since Pump.fun went online in January 2024, the platform has dominated the market for two years, with a cumulative trading volume of more than $8 million. However, Bonk.fun surpassed Pump.fun in just two months with a deeper incentive mechanism and rapid user growth. Bonk.fun's unique rate structure has become the key to its rapid rise. 58% of the platform's revenue is used to purchase and destroy BONK tokens, of which 50% is used for direct destruction and 8% is used as reserves. According to statistics, Bonk.fun's average daily trading volume exceeds $1 million, and the average daily purchase and destruction amount for BONK is $500,000. So far, Bonk.fun has completed 175,000 token issuances, with a total trading volume of $540 million and a fee of about $34 million, far exceeding Pump.fun's $341 million trading volume and 34.9% market share. In addition, USELESS tokens issued by Bonk.fun have quickly become popular, and their market value has exceeded $100 million. If Bonk.fun maintains its current growth rate, the annualized BONK token purchase amount is expected to reach hundreds of millions of dollars, further tightening the market supply. At the same time, other Solana ecosystem issuance platforms, such as Believe, Jup Studio, and Moonshot, have market shares of 3.8%, 2.1%, and 1.7%, respectively, which is significantly different from Bonk.fun's performance.
According to SoSoValue data, yesterday (July 7, Eastern Time), the total net inflow of Bitcoin spot ETFs was $217 million. The Bitcoin spot ETF with the largest net inflow in a single day yesterday was Blackrock ETF IBIT, with a net inflow of $165 million in a single day. Currently, the total net inflow of IBIT has reached $52.81 billion. The second is Fidelity ETF FBTC, with a net inflow of $66.0479 million in a single day. Currently, the total net inflow of FBTC has reached $12.275 billion. The Bitcoin spot ETF with the largest net outflow in a single day yesterday was Grayscale ETF GBTC, with a net outflow of $10.2061 million in a single day. Currently, the total net outflow of GBTC has reached $23.344 billion. As of press time, the total net asset value of the Bitcoin spot ETF was US$135.709 billion, the ETF net asset ratio (market value as a percentage of the total market value of Bitcoin) was 6.32%, and the historical cumulative net inflow has reached US$49.858 billion.
Institutional holdings
Listed Real Estate Company Murano to Build Bitcoin Reserve with $500 Million Equity Deal
According to CoinDesk, Nasdaq-listed real estate company Murano Global Investments (MRNO) announced the launch of a Bitcoin strategic reserve plan. The company has signed a $500 million standby equity subscription agreement, the funds will be mainly used to allocate Bitcoin, and has purchased 21 BTC (about $2.1 million) as the first treasury asset. The Mexican hotel operator with a market value of $800 million also joined the "Enterprise Bitcoin Alliance" led by MicroStrategy and explored the integration of Bitcoin payment and loyalty reward systems in the hotel business. Elias Sacal, chairman of the company, said that Bitcoin can both hedge against inflation risks and enhance the resilience of the balance sheet.
