BlockBeats will summarize the key industry news of the week (7.14-7.20) in this article, and recommend in-depth articles to help readers better understand the market and learn about industry trends.

Important News Recap

This Week's Crypto Market Continues to Rise: Bitcoin Breaks $12.3K Mark Again, Ethereum Surpasses $3,600

On July 14, Bitcoin broke the $12.3K mark for the first time, hitting a new all-time high. At the same time, the massive short position of the "insider trader" @qwatio was liquidated, with a total value of $334 million. On July 18, ETH surged past $3,600, leading to a synchronous rise in various altcoins, and the cryptocurrency market's total market cap exceeded $4 trillion. Related reads: "ETH Surges Nearly 12% in a Day, Which Altcoins Might Follow?", "What Are the Five Key Macros Driving the Strong Rebound in the Crypto Market?", "Trader Observation: What's Next for Bitcoin After Breaking All-Time High?"

U.S. House of Representatives Passes Three Cryptocurrency Bills, GENIUS Act Officially Signed

On July 18, the U.S. House of Representatives passed three cryptocurrency-related bills: the CLARITY Act, the GENIUS Act, and the Anti-CBDC Surveillance Act. The CLARITY Act and the Anti-CBDC Surveillance State Act will be sent to the Senate for deliberation. The GENIUS Act was formally signed into law by Trump on Friday. Related reads: "Stablecoin Bill at Hand, and the Restless Wall Street Bankers", "A Crypto Milestone Approaches, How Will the Three Major Cryptocurrency Bills Affect the Industry?", "Washington's 'Crypto Week' Begins, How Will the Three Bills Reshape the Crypto Destiny?"

Trump Criticizes Fed Building Renovation, Powell Responds

On July 13, White House economic adviser Hassett stated that if there is evidence, U.S. President Trump has the right to dismiss Fed Chairman Powell, adding that the Fed bears "a lot of responsibility" for the overspending on the Washington headquarters renovation. However, in the following days, Trump's stance on whether to dismiss Powell remained wavering. On the 18th, Fed Chair Powell responded to the Fed building renovation issue, stating that the collaboration with the National Capital Planning Commission was constructive and prudent, and it was voluntarily initiated by the Fed. Project changes approved by the National Capital Planning Commission have only involved reducing and simplifying construction content and have not introduced any new elements, thus requiring no further review. Further reading: "The Trump-Powell Saga: A Global Easing Triggered by Renovation", "Regarding Powell's Fate: The Prediction Market Listens to Trump, the Rate Market Listens to Bostic"

Base Hosts "A New Day One" Event This Week, Launches "Everything App" Base App to Replace Coinbase Wallet

On July 17, Base held the "A New Day One" event, where Coinbase CEO Brian Armstrong and Base co-founder Jesse Pollak gave speeches and announced the launch of the "Everything App" — the "Base App," aiming to onboard more users into the crypto economy. This new app, replacing the Coinbase Wallet, integrates wallet, trading, and payment functions, while incorporating social media, instant messaging, and mini-program support, all running on its in-house Ethereum Layer 2 network, Base. It also introduced Flashblocks to increase network base speed by 10 times, making the Base network the fastest EVM chain currently. Further reading: "Base Conference Recap: From Superchain to Super App", "Coinbase No Longer Wants to Be Just an Exchange", "Ahead of Twitter, the New Coinbase Wallet Evolves into WeChat"

Backpack Officially Opens FTX Debt Sale Channel

On July 18, Backpack announced that it has officially opened the FTX debt sale channel. Users can complete the entire process on the platform: identity verification, debt validation, price confirmation + settlement payment. Backpack will not charge any fees throughout the process. "To assist other users who still hold FTX debt, we will launch a non-profit, completely neutral debt sale channel to help connect FTX global debt holders with third-party buyers willing to purchase FTX debt."

Musk Seeks Name for Grok Male Partner, Triggering Significant Meme Coin Volatility

On July 16, Musk sought a name for the Grok male partner on X platform. In response to the community's mention of "Taki, derived from your name (Musk)," Musk replied with a "heart" emoji, seemingly indicating approval. Influenced by this news, related meme coins experienced significant short-term volatility, including: Ani briefly surged to a $40 million market cap before retracting; the male partner's original name CHAD surpassed a $2 million market cap; and multiple meme coins with the name "Taki" briefly appeared. On the 17th, Musk stated that the male partner's name in the Grok humanoid companion will be Valentine, named after the protagonist in Robert A. Heinlein's novel "Stranger in a Strange Land." Subsequently, CHAD plummeted over 50% briefly, with a market cap of less than $500,000, having previously surpassed $10 million in market cap that day. In addition, meme coins related to the Grok humanoid companion, Ani and rudi, both experienced short-term declines, with Ani's market cap falling to $70 million and rudi's market cap dropping to $12 million. Related Read: "AI Girlfriend Concept Soars, What Is Ani That Musk Is Crazy About Again?"

“Silent 14-Year 80,000 BTC Whale” Transfers 40,010 BTC to Galaxy Digital This Week, Another 40,000 BTC Transferred to bc1qs Starting Address

On July 15, according to on-chain analyst Wu Jincen's monitoring, the "silent 14-year 80,000 BTC whale" moved 40,010 BTC and transferred all to Galaxy Digital, with an average transfer price of $117,391. This transfer may be for the purpose of selling. On the 17th, according to on-chain analyst Ai Yi's monitoring, the whale once again transferred 40,000 BTC to the bc1qs...f4au0 address, totaling $4.74 billion.

BlackRock's iShares Ethereum ETF Submits Staking Application

On July 18, BlackRock's iShares Ethereum ETF submitted a staking application. According to a document filed on Thursday, the application was submitted to Nasdaq under SEC Rule 19b-4. 21Shares and Grayscale have also previously submitted similar proposals to introduce staking for their Ethereum ETFs. Possibly in response to this news, LDO saw a temporary surge of over 11%.

SharpLink's Ethereum Holdings Surpass Ethereum Foundation to Become Top ETH Institutional Holder

On July 15, according to on-chain data, the publicly traded company SharpLink Gaming's ETH holdings have reached 294,000 coins, with an average purchase price of around $2,695. SharpLink, as the top institutional ETH holder, has surpassed the Ethereum Foundation's holdings of approximately 51,200 coins, with the foundation currently holding 242,500 ETH in second place. The Ethereum Foundation's holdings have decreased by 6.52% in the past 30 days, while SharpLink Gaming has seen an increase of about 48.5% in the same period. Related Read: "New ETH Whale: Why Are We Betting on SBET?"

Ethereum to Celebrate 10th Anniversary as EF Organizes Global Community Events in Cities Including Shenzhen, China

On July 18, as per an official announcement, the Ethereum Foundation will host global community events on July 30, the 10th anniversary of Ethereum, in cities including Shenzhen, China, and Hong Kong.

Trump to Allow Retirement Funds to Invest in Cryptocurrency and Gold

On July 18, it was reported that Trump is preparing to open up cryptocurrency, gold, and private equity investments to the $9 trillion U.S. retirement market, a move that would fundamentally alter how Americans manage their savings. According to three sources familiar with the matter, Trump is expected to sign an executive order as soon as this week to allow 401k retirement plans to invest in alternative assets beyond traditional stocks and bonds. These investments will span a wide range of asset classes, from digital assets to metals, as well as funds focused on corporate buyouts, private lending, and infrastructure deals. Related Read: "$9 Trillion Pension Funds Enter the Crypto Market? Trump Plans to Lift Ban on 401(k) Investment in Crypto Assets"

Grayscale Secretly Submits IPO Registration Statement to SEC

On July 14, according to official sources, Grayscale Investments announced that it has secretly submitted a draft registration statement on Form S-1 to the U.S. Securities and Exchange Commission (SEC). The number of shares to be registered and the price range have not yet been finally determined. The registration is expected to be implemented after the SEC completes the review process, depending on the market and other conditions. Related reading: "Bitcoin All-Time High Moment, Asset Management Giant Grayscale 'Silently' Launches IPO Plan"

Conflux Tree-Graph Public Chain 3.0 Set to Launch, Plans to Participate in "Belt and Road" Offshore RMB Stablecoin Issuance Pilot

On July 20, from the 18th to the 20th of this month, the Conflux Tree-Graph Technology and Ecosystem Development Conference was held in Shanghai. It was announced at the conference that the Conflux Tree-Graph Public Chain 3.0 will officially launch in August, with a transaction throughput of 15,000 TPS, natively supporting on-chain invocation of artificial intelligence Agents, empowering cross-border payments and RWA asset batch settlement, and creating a "digital expressway" for Web3. Conflux also reached strategic cooperation with AnchorX and Dongxin Heyu to promote the offshore RMB stablecoin issuance, cross-border settlement, RWA, and other application scenarios in countries participating in the "Belt and Road" initiative with overseas benchmark projects. Due to this news, CFX surged over 50% in nearly 6 hours.

Binance Wallet Collaborates with Four.Meme to Launch Exclusive TGE Mode Based on Bonding Curve Mechanism

On July 14, according to an official announcement, Binance Wallet will launch a new Token Generation Event (TGE) mode using the Bonding Curve mechanism – a pricing mechanism that dynamically adjusts token prices based on market demand. This event, jointly launched by Binance and Four.Meme, is the platform's first TGE to adopt this mechanism. On July 16, Binance Wallet's exclusive Bonding Curve version of TGE launched the first-phase project Hyperion (RION). Related reading: "Binance's New Play – Bonding Curve Version TGE: What's the Story Behind the First-phase Project Hyperion?"

Linea Project Lead: Tokenomics to be Revealed by End of July Instead of TGE, Specific TGE Timing Depends on External Factors Such as CEX

On July 14, Linea Project Lead Declan Fox posted explicit information on social media stating that Linea's tokenomics and governance details will be revealed by the end of July (not as part of a Token Generation Event TGE); a few days before the TGE, the airdrop query tool and eligibility criteria will be announced; the specific TGE timing depends on external factors such as CEX, but will not be delayed too long; SBET is the ticker symbol for Sharplink. The Linea token is coded as LINEA, but SBET, ETH, and LINEA will form a "Three Musketeers" combination on Ethereum. Related Reading: "Linea Finally TGEs, Looking Back on the Life and Death of the L2 Unicorn Over 900 Days"

US Department of Justice States It Only Holds 29,000 BTC as of March, Significantly Below Market Speculation

On July 17, based on documents obtained through the Freedom of Information Act by crypto independent journalist L0la L33tz, it was revealed that the amount of Bitcoin held by the US Marshals Service is much lower than previously believed. In a response letter, the Department of Justice disclosed that as of March, the agency only held 28,988 BTC. This number differs significantly from other market data sources: Arkham Intelligence estimates that various US government agencies collectively hold nearly $25 billion in cryptocurrency assets; Bitcoin Treasuries data shows that the US government should hold 198,012 BTC (about $25 billion). Senator Cynthia Lummis, a major proponent of a strategic Bitcoin reserve, stated, "It is shocking. It is reported that the US has sold more than 80% of its Bitcoin reserve, leaving only about 29,000 BTC. If true, this would be a major strategic mistake, setting the US back several years in the Bitcoin competition." Related Reading: "Trump's Crypto Reserve Plan Thwarted, Did the US Marshals Service Sell 170,000 BTC?"

Former FSL Chief Growth Officer Mable Jiang Announces Establishment of Social Protocol Trends

On July 17, Mable Jiang, former Chief Growth Officer of Stepn's parent company FSL, announced her resignation and the establishment of the social protocol Trends. Trends will be anchored in value and committed to advancing the information finance boundary. Trends has received early support from several prominent founders and angel investors, including Solana co-founder Anatoly Yakovenko, Solana Foundation Chair Lily Liu, Jupiter co-founders Meow & Siong, and more. Mable stated that after years of exploring widespread adoption of crypto applications, she distilled three first principles: true Web3 innovation is always accompanied by a significant reduction in the cost of value flow; the trend of tokens as information containers merging with social media; and the ongoing decline in on-chain issuance and value transfer costs, with the social scenario ready for it. Related Reading: "With Full Support from Solana All-Stars, How to Play 'Tweet-to-Token' Trends.fun?"

Standard Chartered Bank Launches Bitcoin and Ethereum Spot Trading Service for Institutional Clients

On July 15, Standard Chartered Bank introduced a Bitcoin and Ethereum spot trading service for institutional clients through its UK branch to meet the growing demand for crypto assets. Standard Chartered Bank stated that it has become the first globally significant bank to offer deliverable Bitcoin and Ethereum spot trading services, with secure, compliant, and scalable access.

Trump Family Crypto Project 'WLFI Token Tradeable' Proposal Approved

On July 17, according to information on the relevant page, the Trump family's crypto project's 'WLFI Token Tradeable' proposal has completed voting and been approved. The proposal aims to make the WLFI token tradeable, enabling broader community governance participation through peer-to-peer transactions or the secondary market; transition the WLFI ecosystem from closed participation to open participation; enhance the token's utility and use cases; initiate the next phase of community ownership and interaction; and ensure long-term token incentives align with protocol adoption and success. Related Read: "WLFI Unlocking Launch Approaching, What's the Valuation?"

Hungary Implements World's Strictest Crypto Regulations, Digital Asset Trading Could Lead to Conviction

On July 14, it was reported that Hungary officially implemented one of the world's strictest cryptocurrency regulations as of July 1, forcing several large fintech companies to suspend related services and potentially categorizing the digital asset trading activities of hundreds of thousands of citizens as criminal. This significant policy change has caused widespread confusion and concern in the fintech sector. The new regulations introduced two criminal offenses: "Cryptocurrency Abuse" and "Providing Unauthorized Cryptocurrency Exchange Services." Individuals using unauthorized cryptocurrency exchange services could face up to two years in prison for basic transactional activities; for transactions exceeding 50 million Hungarian forints (approximately $140,000), the maximum sentence could be three years; for amounts exceeding 500 million forints (approximately $1.4 million), the maximum sentence could be five years.

Decentralized Card Game fantasy.top Announces Migration to Base

On July 15, according to official sources, the decentralized card game fantasy.top announced its migration to Base, with the required cross-chain bridge for migration set to open on July 15 at 1 p.m. On December 13 last year, the Blast-based decentralized card game Fantasy.top unveiled the platform's second version, Fantasy V2, while also completing a $4.25 million seed funding round. This funding round was led by Dragonfly with participation from Manifold Ventures. Related Read: "'Flagship' of the Ecosystem Fantasy.top Leaves, What Happened to Blast?"

California Governor Launches "Breakthrough Initiative," Invites Ripple, Coinbase, and Other Crypto Executives to Participate in Government-Industry Collaboration Reform

On July 15, FOX Business reporter Eleanor Terrett reported that California Governor Gavin Newsom announced the launch of the "California Breakthrough Initiative" and invited senior leaders from tech and crypto companies such as Ripple, Coinbase, and MoonPay to participate in providing advice and support to enhance California's government efficiency and interdepartmental collaboration. The project working group held its first meeting on June 6 at Ripple's headquarters in San Francisco, with other participants including executives from Instacart, Snapchat, Anduril Technologies, and prominent angel investor Ron Conway.

U.S. Justice Department and CFTC Have Concluded Investigation into Polymarket

On July 15, Bloomberg reported that during the Trump administration, the U.S. Department of Justice (DOJ) and the Commodity Futures Trading Commission (CFTC) concluded their investigation into the prediction platform Polymarket.

NVIDIA to Resume Sales of H20 Chips in China

On July 15, according to market sources, NVIDIA (NVDA.O) announced it would resume sales of H20 chips in China and introduce a new, fully compliant GPU for the Chinese market. The U.S. government has assured NVIDIA of granting a license, and NVIDIA hopes to start deliveries soon. Related reading: "Huang Renxun: 30 Years After Financial Freedom, I Have No Dreams"

Bitcoin Mortgage Loan Makes Debut in Australia

On July 18, it was reported that Block Earner launched Australia's first Bitcoin mortgage loan. Prior to this, the company had persisted in a legal battle with regulatory authorities for over two years. The launch of this product was made possible by an April ruling by the Federal Court, which determined that Block Earner's cryptocurrency lending product did not fall under the category of a "financial product" under the Corporations Act. This ruling means that the company does not need to hold a financial services license to accept Bitcoin as collateral in mortgages.

Mainland Crypto Scam Hits Hong Kong, Over 100 Hong Kong Residents Scammed, 4 Arrested by Police

On July 18, according to Caixin, a mainland virtual currency investment scam has reached Hong Kong, with at least 118 people falling victim to the scam, totaling approximately HK$3.2 million in losses. The Hong Kong police revealed that on July 15, they arrested 4 local Hong Kong residents on charges of "conspiracy to defraud." These individuals are accused of organizing promotional events for the mainland virtual currency scam, soliciting victims, and collecting fraudulent funds amounting to HK$3.89 million, of which about HK$3.2 million has not yet been recovered except for a small amount withdrawn.

Top Funding This Week: Function, Two Prime, Dakota, Spiko, Ephemera, Blockskye, Substack, ACM

On July 15, it was reported that crypto infrastructure company Function completed a $10 million seed round, led by Galaxy Digital with participation from Antalpha and Mantle.

On the 15th, Two Prime, a registered investment advisor and institutional lender in the U.S., currently managing around $1.75 billion in assets, announced a $20 million equity financing round led by Bitcoin miner MARA Holdings (MARA), with participation from Susquehanna Crypto. In addition to acquiring equity in the company, MARA will also participate in Two Prime's institutional yield strategy's Bitcoin allocation, which has been increased from the original 500 BTC to 2000 BTC.

On the 15th, enterprise-focused crypto-native bank platform Dakota completed a $12.5 million Series A funding round led by CoinFund, with participation from 6th Man Ventures and Triton Ventures, aimed at expanding its borderless banking services.

On the 17th, tokenized currency market fund platform Spiko announced the completion of a $22 million Series A funding round led by Index Ventures, with participation from White Star Capital, Frst, Rerail, Bpifrance, and Blockwall.

On the 17th, decentralized messaging protocol XMTP developer Ephemera completed a $20 million Series B funding round aimed at establishing and developing its ecosystem. This round was co-led by Union Square Ventures, a16z crypto, and Lightspeed Faction, with participation from Coinbase Ventures, Offline Ventures, Sound Ventures, among others.

On the 18th, Blockskye, a blockchain infrastructure for business travel, completed a $15.8 million Series C funding round led by Blockchange, with participation from United Airlines Ventures, Lightspeed Faction, KSV Global, Lasagna, and others.

On the 18th, it was reported that the content subscription-based platform Substack recently closed a $100 million funding round led by BOND and The Chernin Group, with participation from Andreessen Horowitz, Rich Paul of Klutch Sports Group, and Jens Grede, co-founder of Skims Body Inc.

On the 18th, privacy-focused financial protocol AI Cross Matrix (ACM) announced the completion of a $12 million seed round, with investors including Asva Capital, Genesis Capital, BuzzBridge Capital (BZB), Avalon Wealth Club, and M2M Capital.

Indian Cryptocurrency Exchange CoinDCX Hacked, Loses Around $44.2 Million

On July 19th, blockchain sleuth ZachXBT posted stating, "It appears that India's centralized exchange CoinDCX may have been hacked around 17 hours ago, losing around $44.2 million, but has not yet disclosed this to the community. The attacker address initially received 1 ETH through Tornado Cash as seed funding and then transferred some of the stolen funds from Solana to Ethereum cross-chain. Thanks to @Cyvers for alerting me to these abnormal transfers. The affected CoinDCX hot wallet has not been publicly identified and is not included in current reserve proof, so I can only manually identify ownership by reviewing the counterparty addresses. On July 20th, CoinDCX released a follow-up statement stating, 'Loss due to the attack is approximately $44.2 million.' The reason for the attack was an internal operational account that was compromised due to a server breach, and the CoinDCX wallet used to store customer assets was not affected. The related losses will be fully borne by CoinDCX's treasury reserves. Assets are currently being frozen and recovered, and a bug bounty program is being planned.

UK Home Office Plans to Sell Approximately $7 Billion in Seized Cryptocurrency to Fill Fiscal Gap

On July 20th, according to UK's The Telegraph, the UK Home Office is working with law enforcement to sell a batch of seized cryptocurrency to fill a fiscal gap. The total amount of cryptocurrency seized by the police is unclear, but in a raid in 2018, approximately 61,000 bitcoins were confiscated in a Ponzi scheme case, which is now valued at over £5.4 billion (approximately $7 billion), a 20-fold increase from when it was seized. The Home Office plans to establish a 'cryptocurrency storage and liquidation framework' that allows law enforcement to securely hold and sell frozen digital currencies. According to a tender notice issued by the UK government's policing company BlueLight Commercial on behalf of the Home Office, the government will also provide a contract for an outsourced service to operate a centralized service responsible for holding and selling the seized cryptocurrency. The contract is valued at up to $53.7 million, with a minimum term of four years, but acceptable bids have not yet been received for the proposal. The time between asset seizure and liquidation due to legal proceedings typically takes a long time. The tender notice states: 'The average time between asset seizure and realization through legal processes is within 1 year, and for more complex cases, it may take 3 to 4 years.'

Top Articles of the Week

"The Received Stablecoin Act and the Restless Wall Street Bankers"

The U.S. passing the "GENIUS Act" and "CLARITY Act" marked the official "landing" of stablecoins, becoming nationally endorsed official financial instruments. The increase in regulatory clarity has led to a collective entry of Wall Street traditional banks. JPMorgan Chase, Citigroup, Bank of America, and others have all laid out plans for stablecoins and on-chain payments, with Standard Chartered Bank even directly opening up Bitcoin and Ethereum spot trading. Meanwhile, Peter Till and others have launched the new bank Erebor, providing compliant stablecoin services for high-risk innovative enterprises. With the reopening of Federal Trust Bank charters, Circle, Ripple, Anchorage, and others are actively seeking access to the U.S. Federal Reserve clearing system, and crypto finance is moving from the edge to the mainstream, ushering in the next wave of financial infrastructure restructuring.

"ETH's Game of Musical Chairs: From Retail Consensus to Wall Street Conspiracy?"

ETH's plunge from the beginning of the year to $1500 was actually a premeditated washout and change of ownership by institutions, with on-chain data showing chips are consolidating in the hands of a few large holders. U.S. small-cap stocks like SBET and BMNR are using PIPE financing to massively buy ETH, driven behind the scenes by players such as Pantera, Consensys, Founders Fund, and other crypto OGs. ETH's price surge narrative has shifted from a hype narrative to structured financial instruments, attracting traditional financial funds. This script was orchestrated by Ethereum's core capital, with ETH transitioning from a community consensus asset to an institutionally conspired asset. The narrative has changed, but the controllers are still familiar crypto whales.

"Coinbase No Longer Wants to Be Just a Trading Platform"

Coinbase is undergoing a deep transformation from a traditional trading platform to a provider of on-chain financial infrastructure. Faced with challenges such as declining profits, loss of trading volume, and increasing competition, the company has made acquisitions of Spindl, Iron Fish, Liquifi, and Deribit, constructing a full-stack ecosystem around the Base chain, USDC network, wallets, and derivatives markets covering payment, privacy, token management, and institutional services, gradually reducing its reliance on spot trading. Coinbase is shaping itself into the "Apple + Visa + AWS" of the Web3 world, reshaping the underlying structure of the crypto world with identity systems, on-chain social networks, payment settlement, etc., and its ultimate competitor is no longer just the crypto exchange industry but the entire traditional financial system.

"If ETH Reaches $5000, How Much Can SBET Rise?"

Over the past month, as Ethereum surged from $2100 to $3000, ETH has quietly become the new strategic asset pursued by publicly traded companies. Five US-listed companies have purchased over 540,000 ETH, worth over $1.6 billion in total. SharpLink (SBET) also significantly increased its holdings by nearly 50,000 ETH in just 5 days, with staking rewards exceeding 300 ETH, surpassing the Ethereum Foundation's holdings. The mNAV indicator shows that the current valuation is still rational and has not yet entered the stage of emotional bubble. Institutions value three main attributes of ETH—staking rewards, RWA narrative, and the replicable "MSTR model," driving an institutional value discovery for Ethereum. If ETH continues to rise to $5000, these "Ethereum Stock Tokens" may undergo a new round of valuation reassessment.

"$PENGU's Meteoric Rise: The Little Penguin Aiming to Become the Face of Finance"

Pudgy Penguins are redefining the narrative and positioning of NFTs. Recently, both the NFT floor price and the token $PENGU skyrocketed not due to a hot trend but sparked by a collective "tacit action" of swapping penguin avatars among crypto behemoths, reflecting its rise as an industry consensus symbol. From a deep integration with Web3 core projects to breaking the traditional financial circle by ringing the Nasdaq opening bell, Pudgy Penguins, with their approachable and adorable image, are vying for the position of "financial world's visual spokesperson," aiming to be more than just a meme or NFT project but a brand symbol connecting mainstream and crypto.

"From Binance Alpha to Binance Spot: What Are the Criteria for Projects?"

After the upgrade of Binance Alpha to 2.0, most of the projects listed on Binance Spot are new projects with strong funding backgrounds and regulatory compliance, accounting for only about 20%, showing a higher entry threshold. These projects are diverse in type, without a clear bias towards popular narratives or self-sponsored projects but generally possess strong funding capabilities and follow a synchronized TGE + airdrop pace. In terms of performance, over 70% of projects have a maximum diluted market cap on the opening day exceeding 20 times the funding amount, indicating that the market's valuation expectations for "legitimate" projects have gradually formed an implicit threshold.

"Big Players Frenzy, How Sweet is Plasma's XPL Public Sale?"

Plasma, jointly invested by Tether's parent company Bitfinex and Peter Thiel, raised $27.5 million in just two months, with a valuation of up to $5 billion, becoming the most prominent stablecoin-focused public chain at present. It combines Bitcoin's settlement layer security and Ethereum Virtual Machine compatibility, supports free USDT transfers, privacy protection, and native BTC liquidity, attracting a large number of users to participate in the XPL public sale. Its unique fee mechanism and two-layer architecture not only improve performance but also open up new revenue and discourse sources for Tether, potentially becoming the new overlord of stablecoins challenging Tron.

"Amid the Surge of Crypto Treasury Companies, What Are Some Potential 'Pitfalls'?"

The listing of companies' "crypto treasuryization” is evolving from simply buying coins into a carefully designed financial engineering process, using PIPEs, SPACs, ATMs, and convertible bonds as traditional financing tools to drive market value through narratives and guide liquidity through structures. Driven by institutions like UTXO, Pantera, and Galaxy, several companies have transformed into "coin-based monster stocks." However, this capital game also harbors structural risks: information asymmetry, dilution suppression, and liquidity mismatch often leave retail investors in a passive position. What truly drives stock price fluctuations may not be Bitcoin's price, but rather the invisible logic of capital structure.

"The Undervalued Opportunity: Is Ethereum Meme the Wealth Code of This Cycle?"

In this article, the author shares a specific strategy for achieving financial freedom through Ethereum meme coins: gradually exiting the declining liquidity of the Solana ecosystem, shifting to Ethereum meme coins with strong liquidity and DeFi compatibility, focusing on blue-chip projects like PEPE, MOG, SHIB, while also holding mid-cap and small-cap coins moderately to enhance potential returns. By using the IMF protocol for meme coin collateralized borrowing, engaging in low-risk spot leverage operations to maximize returns. Finally, the author emphasizes taking profits in batches, setting clear exit strategies, and believes that meme coins will continue to surge in the next bull market.

"Peter Thiel: 2024, the First Year Elon Musk No Longer Believes in Mars"

The ambiguity of Silicon Valley's relationship with Trump stems from the deep-seated technological anxiety and ideological shift within Silicon Valley. In a conversation with Ross Douthat, Peter Thiel reiterated his concerns about "technological stagnation," believing that since the 1970s, society has gradually lost its drive for progress, with a veiled form of soft totalitarianism under the guise of "peace and security." He criticized mainstream tech culture for losing its spirit of adventure, calling for a revival of the belief in radical exploration, and warned that environmentalism and global governance could become breeding grounds for future "antichrist" control. In his view, AI is currently the only technological breakthrough, but it could both drive restructuring and exacerbate stagnation. Faced with the future, he is both a realist and retains hope for free will.

"When Wall Street Starts Buying ETH, Ethereum Sees Its Moment of Glory"

As Wall Street refocuses on crypto assets, ETH is becoming a core target in institutional visions—it has ETF support, a robust on-chain stablecoin ecosystem, and a positioning as the "digital gold beta." Despite Ethereum still facing scalability and value capture issues, in investors' perception, ETH, with the Lindy Effect and relative undervaluation, is attracting structural incremental capital inflows, driving its asset pricing to gradually detach from on-chain narratives and move towards a potential all-time high.

"Two Weeks After the Launch of 'US Stock Tokenization': Heavy Speculation, Tracking Amazon Token Price Is 4 Times Stock Price"

Blockchain tokenized stocks attempt to allow global users to conveniently invest in US stocks, but in practice, there have been severe price deviations, lack of liquidity, and regulatory risks, leading to concerns about market manipulation and insider trading. Several tokens saw massive price surges at launch, far exceeding the price of the target stock, and tokens tied to private companies launched by Robinhood also faced official scrutiny. Despite claims by issuers that blockchain transactions are more transparent, trading on anonymous platforms is still seen as a potential regulatory loophole.

"New Path of Cross-Ecosystem Collaboration: HYPE Soars to the Top, Phantom Reaps Commission Rewards"

The Solana ecosystem wallet Phantom partnered with the decentralized contract trading platform Hyperliquid, allowing users to directly engage in up to 40x leveraged contract trades within the wallet. The collaboration had a significant impact: Hyperliquid reached tens of millions of users, with the token price hitting a new high; Phantom swiftly profited from the commission mechanism, expanding its product capabilities with contract trading functionality; users could enjoy improved liquidity and near-institutional-level fees. This seamless cross-ecosystem integration is also seen as a practical example of future chain abstraction, demonstrating a new direction for the evolution of integrated crypto products.

"Solana Meme Platform Battle: Did Raydium Become the Biggest Winner?"

With daily deployments surpassing Pump.fun in token graduation quantity, Letsbonk.fun has become the most popular Meme token launch platform. Its LaunchLab architecture based on Raydium has made Raydium one of the biggest beneficiaries of this trend. As a large number of new coins are issued through Letsbonk.fun, Raydium not only receives ongoing transaction fees but also increases the buyback pressure on RAY through LaunchLab's fee mechanism. Currently, the buyback funds account for 12% of the circulating market cap, providing strong support. In addition, the stock tokenization trading layout on Raydium hints at further revenue growth potential.

"Unveiling Ethereum's Two-Year Technical Roadmap: Which Upgrades Will Provide the Strongest Price Support?"

Over the next two years, Ethereum will advance technical innovations in five main directions: zkEVM, execution architecture, L1-L2 collaboration, validator mechanism, and sharding. zkEVM will directly enhance the main chain's efficiency and institutional compliance, the RISC-V architecture will reshape execution performance and cost structure, L1-L2 collaboration will break through cross-chain barriers and integrate massive liquidity, validator threshold and reward optimization are expected to increase staking participation rate and strengthen deflationary logic, while the shard plan's restart will pave the way for Web3 scalability. Technological changes combined with structural supply-demand improvements may provide medium to long-term support for ETH prices.

"From Appointment to Showdown: Trump and Powell's Seven-Year Power Struggle, Resignation Storm Could Trigger Turbulence"

Trump launched a showdown against Powell over the issue of the Fed headquarters' renovation, escalating this seven-year political game into a high-risk event affecting global markets. If Powell is indeed forced to step down, it will shake the Fed's independence, leading to dollar depreciation, sharp fluctuations in U.S. Treasury yields, and increased uncertainty in global financial markets. This is not just a struggle over interest rates and inflation paths but a frontal clash of institutional authority and political power.

"From Grassroots to $600 Billion Valuation, Robinhood: Entertainment to Life"

Starting from a zero-commission trading platform, Robinhood quickly attracted millennial retail investors with gamified design and order flow payment for order flow, leading to an industry-wide commission structure transformation. After experiencing reputational damage following the GameStop event, the company accelerated its crypto strategy. With key milestones such as the Dogecoin frenzy, the launch of Robinhood Wallet, and SBF's investment, the crypto business experienced rapid growth. By 2025, Robinhood acquired Bitstamp, developed its own blockchain, and opened up blockchain securities trading, completing its transformation from a retail broker to a global fintech platform. The stock price surpassed $100, with a market valuation exceeding $880 billion, reshaping its position as a key player in the financial narrative.

"Binance 2025 H1 Research Report: Bitcoin Demonstrates High Beta Characteristics, Mainstreaming of Stablecoins Accelerates"

In the first half of 2025, the overall cryptocurrency market showed a pattern of volatile recovery. Amid macroeconomic headwinds and policy tailwinds, the total market cap rose slightly by 1.99%. Bitcoin maintained a market cap of $2 trillion driven by ETFs and corporate allocations, while the Ethereum ecosystem demonstrated resilience. Solana and BNB Chain maintained high activity levels. DeFi entered a mature stage, with Real World Assets (RWA), prediction markets, and stablecoins becoming new growth points. Institutional participation and the tokenization of traditional financial assets accelerated, regulatory clarity emerged in the US and EU, providing compliance support for the market. In the second half of the year, the market will continue to be deeply influenced by shifts in monetary policy, legislative progress, and the integration of Traditional Finance (TradFi).

"Public Company Crypto Reserve Surge: In-Depth Look at Behind-the-Scenes Crypto VCs"

More and more public companies are incorporating crypto assets into their financial strategies, from Bitcoin and Ethereum to stablecoins and AI tokens, forming a wave of "crypto treasuryization." Behind this trend are crypto venture capital and funds, including Pantera, Galaxy Digital, Animoca, Sora, DWF Labs, driving the layout through PIPEs, convertible bonds, mergers, and acquisitions. These institutions not only provide funding but also participate in corporate governance and strategy formulation, driving companies like MicroStrategy, SharpLink, Upexi to build on-chain financial systems based on BTC, ETH, or SOL, accelerating the crypto transformation of traditional enterprises. This also marks the gradual transition of crypto assets into a new category of reserve assets in the global capital markets.

"$500 Million Sold Out in 12 Minutes, Is PUMP Listing Just a Game for Institutions and Whales?"

The PUMP presale triggered market sentiment, selling out $500 million in just 12 minutes. However, data shows that actual participants were highly concentrated, with nearly empty participation through CEX channels, and Kraken only allowing two individuals to have a high allocation. Although the official website showed tens of thousands of participants, the median purchase amount was only $540, indicating that most users had limited actual investment. Meanwhile, large holders circumvented restrictions through new wallets, directing the flow of funds. Overall, what appeared to be a decentralized feast of mass participation turned out to be a precise arrangement by a few whales, with retail investors mostly acting as bystanders and liquidity providers.

"2024 Crypto IPO Craze: SPACs Replace Traditional Reverse Mergers as Bitcoin Companies Rally Together"

The Strategy company led the wave of public companies holding Bitcoin through a debt-for-coin model, creating a leverage flywheel of "Buy Coin - Financing - Buy More Coin." This model is now further simplified and replicated through SPAC reverse mergers, where emerging companies can go public on the stock market based solely on holding coins and financial structuring, even without actual business operations. While the SPAC pathway offers advantages such as loose regulation and flexible narratives, it also faces hidden risks such as transparency, governance, and risk accumulation. However, with the bullish market sentiment and institutional endorsement driving it, SPACs are becoming a new avenue for the securitization of Bitcoin exposure. Investors need to be cautious of the gap between the complex structure of SPACs and the nature of the underlying assets.

Welcome to join the official BlockBeats community:

Telegram Subscription Group: https://t.me/theblockbeats

Telegram Discussion Group: https://t.me/BlockBeats_App

Official Twitter Account: https://twitter.com/BlockBeatsAsia