BlockBeats will curate the industry's key news content for the week of 7.28-8.3 in this article and recommend in-depth articles to help readers better understand the market and stay informed about industry trends.

Important News Review

This Week's Market Sees Continued Pullback, Bitcoin Falls Below $112,000, Previously Strong Altcoins Experience General Decline

On August 3, Bitcoin briefly fell below $112,000, with a 0.55% decrease in price over 24 hours. Ethereum also briefly dropped below $3,360, with a 2.42% decline over 24 hours. Alongside the market adjustment, previously strong altcoins experienced a general decline. Among them: VINE saw a daily decline of 29.8%; ZORA saw a daily decline of 15.6%; ENA saw a daily decline of 9.7%. According to Coinglass data, on August 1, the total liquidation of long positions across the entire network reached $9.222 billion, marking the largest long liquidation day since February 25 this year. It is worth noting that after February 25, the market underwent a consolidation phase lasting over two months. Related reading: "Bitcoin Breaks Below $115,000, Is It a Delayed Response to the Sale of 80,000 BTC?", "Bull Market Pauses: Institutional Purchases Unable to Halt Market Correction, Short-Term Volatility Likely to Continue"

White House Officially Releases Digital Asset Report, No Substantial Update on Bitcoin Reserve Plan

On July 31, the White House released the long-awaited digital asset report, outlining a national strategy aimed at positioning the United States as a global leader in the blockchain, cryptocurrency market, and tokenized finance sectors. Although the report covers a wide range of digital asset policy areas, it did not provide a substantive update on the government's Bitcoin reserve plan, merely restating the description in President Trump's January executive order without listing follow-up steps or an implementation schedule. This 166-page document was co-authored by White House Crypto and AI Lead David Sacks and Executive Director Bo Hines, integrating input from the Treasury Department, Commerce Department, Securities and Exchange Commission (SEC), and Commodity Futures Trading Commission (CFTC), and includes multiple proposals on simplifying regulation, supporting innovation, and achieving regulatory modernization. Related reading: "Decoding the White House Digital Asset Report: Clearer Regulation, Embracing DeFi and Innovative Financial Products"

The Federal Reserve Maintains Interest Rates This Week, but Two Board Members Dissent for the First Time in Nearly 30 Years

On July 31, the Federal Reserve kept interest rates unchanged on Wednesday with a rare division in the decision-making process, and the statement did not clearly indicate when a rate cut might occur. Two board members appointed by Trump—Bullard and Bowman—expressed dissent, both believing that the current monetary policy is too tight. This is the first time in over 30 years that two board members have dissented in a decision. The FOMC voted 9-2 to keep the benchmark overnight rate in the 4.25%-4.50% range, holding steady for the fifth consecutive meeting. Related reading: "For the First Time in Nearly 32 Years, Two Dissenting Votes Emerge at the Federal Reserve—What Signals Are Being Sent?"

SEC Launches Project Crypto to Drive On-chain Financial Market Transformation

On August 1, according to Reuters, the U.S. Securities and Exchange Commission (SEC) launched Project Crypto, aiming to modernize securities regulations and enable the U.S. financial markets to undergo on-chain transformation. Related reading: "Full Text of SEC Chair's 'Project Crypto' Speech: Comprehensive Migration of the U.S. Financial Market to the Blockchain", "With Project Crypto Emerging, Who Will Be the Biggest Winner in the U.S. On-chain New Order?"

SEC Updates Cryptocurrency ETP Listing Standards, Hinting at Potential Approval of Numerous Crypto ETFs

On July 31, the U.S. Securities and Exchange Commission (SEC) updated the cryptocurrency ETP "listing standards" through a new filing for exchange-traded products. The filing indicates that any token/ETF listed on the Coinbase derivatives trading platform with continuous futures trading for over 6 months is likely to be approved. Market analyst @qinbafrank stated that the three significant implications of this major change include: signaling the imminent approval of a large number of cryptocurrency spot ETFs; Coinbase will be the biggest beneficiary, with its crypto futures launch being sought after by various projects; and the SEC's approval authority for cryptocurrency spot ETFs will be pre-positioned to the CFTC (Commodity Futures Trading Commission) as the primary decision-making regulatory agency determining which assets can have futures contracts.

Insider Suggestion: National-Level Public Chain Should Be Led by Central SOEs

On August 2, according to Caixin, an insider suggested during a stablecoin-related interview that China currently does not have a globally influential public chain. Another insider proposed that the national backbone public chain should be led by central state-owned enterprises, while industry-level public chain development can be open to market competition. One insider stated, "The public chain is the infrastructure for stablecoin issuance, and it is of great significance and indispensable for us to build a self-controllable, secure, and efficient financial infrastructure system for the digital financial era."

Debunking Rumors: Multiple Foreign Media Outlets Report Today's News of "China Re-banning Cryptocurrency Trading and Mining" as Possibly False

On August 3, today, several overseas media and KOLs, including Kalshi, First Squawk, Cointelegraph, and The ETF Store President Nate Geraci, reported the news of "China just announced the formal ban on cryptocurrency trading and mining." BlockBeats learned from multiple sources that as of now, there has been no recent announcement of such a ban. In fact, as early as May 19, 2021, China had already fully banned cryptocurrency mining activities.

Ethereum Celebrates Tenth Anniversary This Week, Torch Commemorative NFT Minting Surpasses 780,000 Units

On July 30, Ethereum marked its tenth anniversary, with ETH starting from $0.3 and soaring to over $4000, ranking as the world's 28th largest asset and becoming the second-largest cryptocurrency by market capitalization, following only Bitcoin. Ethereum is widely used in DeFi, NFTs, and other fields, earning the title of "world computer" and reshaping our world imperceptibly. On July 31, the Ethereum tenth-anniversary torch commemorative NFT minting has ended, with a total exceeding 780,000 units and over 660,000 holder addresses. "The Torch" NFT is used to pay tribute to those who have shaped its development and values in Ethereum's first decade and will help in the future development of Ethereum. Related Readings: "Ethereum at Ten, Wall Street Takes Over the First Year", "From Miner to Staker: The Evolution of Ethereum's Hashrate and Narrative in Ten Years"

Linea Reveals Tokenomics: Total Supply Approximately 72 Billion Tokens, 9% Airdropped to Early Users

On July 30, Linea officially announced the LINEA tokenomics: the total supply is 72,009,990,000 (approximately 72 billion) tokens, equivalent to 1,000 times the initial circulating supply of ETH, with its distribution method echoing Ethereum's genesis allocation: 85% of the supply is dedicated to the ecosystem, with the remaining 15% allocated to the Consensys treasury. Early users will receive tokens from a distribution equivalent to 9% of the token supply, which will be airdropped during the Token Generation Event (TGE) and fully unlocked. 75% of the LINEA token supply is allocated to the ecosystem fund, managed by the Linea Alliance, including ENS Labs, Eigen Labs, SharpLink, Status, and Consensys. ETH will act as the network gas token, and after deducting the L1 cost, 20% of the gas fees will be burned, reducing the supply of ETH and enhancing its currency premium, while the remaining 80% of the gas fees will be used to burn LINEA. Related Readings: "Linea Airdrop Approaching: This Time, L2 Starts to Benefit L1?", "Linea to TGE Soon, What Is the LXP Point Threshold and Fair Valuation?"

US SEC Approves Bitcoin and Ethereum ETF Physically Backed Redemption Mechanism

On July 30, according to market sources, the U.S. Securities and Exchange Commission (SEC) officially approved the physically backed redemption mechanism for Bitcoin and Ethereum ETFs.

US SEC Confirms Receipt of Application Allowing for BlackRock Ethereum Spot ETF Collateralization

On July 30, the U.S. Securities and Exchange Commission (SEC) confirmed receipt of an application allowing for BlackRock's Ethereum spot ETF collateralization. The ETF Store President Nate Geraci had previously indicated that Ethereum ETF collateralization would happen regardless. This situation will occur more quickly under the leadership of the Trump administration.

CCTV's "World Weekly" Special Report on Trump's Crypto-Friendly Policy and Stablecoins

On July 27, CCTV's program "World Weekly" aired a special evening report on Trump's crypto policy and stablecoins. The report stated that despite Trump enacting a series of crypto-friendly laws including the Genius Act, Bitcoin and cryptocurrencies still face issues such as significant price volatility and high security risks. The report lasted about 20 minutes in total, highlighting Trump's active promotion of stablecoin development in connection with Fed policy and the high level of US debt. It referred to stablecoins as the new generation of "dollar hegemony" and emphasized that in the current global trend of countries accelerating the issuance of CBDCs, "establishing a more stable international order is a brand-new challenge."

Hong Kong's "Stablecoin Regulation" Officially Takes Effect This Friday, Initial Stablecoin License Scope May Include Only 3-4 Companies

On August 1, Hong Kong's "Stablecoin Regulation" officially took effect, and the Hong Kong Monetary Authority has opened applications for stablecoin issuance licenses, marking a new stage in the implementation of stablecoin development in the Hong Kong region. Over the past year, the Hong Kong Monetary Authority has conducted sandbox testing of stablecoin application scenarios and has gradually clarified regulatory guidelines and application pathways. Now, participating institutions will transition from testing to the formal regulatory system for issuance and circulation. According to incomplete statistics, dozens of institutions have expressed their intention to apply for stablecoin licenses. On August 2, according to Caixin, in June and July of this year, discussions on stablecoins between China and Hong Kong had reached a climax before cooling down, and Hong Kong may limit the initial stablecoin license scope to three to four companies. Related readings: "Hong Kong Stablecoin Policy Landing in Focus, You Need to Know These", "Dialogue with Xiao Feng: Cold Thinking Behind the Stablecoin Craze, Hong Kong May Once Again Become the Center of the Digital Asset World"

Hong Kong's "Stablecoin Regulation": Issuers Must Control to Prevent Users from Using VPN in Identity Verification

On July 31, the Hong Kong Monetary Authority stated in its licensed stablecoin issuer supervision guideline document "Stablecoin Regulation" that it requires licensed stablecoin issuers to "ensure that stablecoins are not issued in or offered to jurisdictions where transactions are prohibited," and that "licensees should implement controls to mitigate the risk of location masking in remote customer identity verification processes and during day-to-day operations (e.g., the use of a Virtual Private Network or VPN)."

Tether Surpasses South Korea to Become the 18th Largest Holder of U.S. Treasury Bonds

On August 1, according to Messari data, Tether surpassed South Korea to become the 18th largest holder of U.S. Treasury bonds. According to Tether's latest Q2 financial report, its U.S. bond holdings have exceeded $127 billion.

Ming Pao: JD.com has Registered "JCOIN" and "JOYCOIN," Expected to be Stablecoin Names Under its Umbrella

On July 29, according to Ming Pao's report citing local media, registration documents indicated that JD.com's JD Coin Chain has registered "JCOIN" and "JOYCOIN," with suggestions that these names are indeed its stablecoin names. According to the registration documents cited in the above-mentioned report, the services related to "JCOIN" and "JOYCOIN" include providing electronic fund transfers and cryptocurrency financial transactions through blockchain technology. JD Coin Chain is one of the Hong Kong Monetary Authority's stablecoin issuer sandbox participants. It had collaborated with local virtual bank Tianxing Bank supported by companies such as Xiaomi and Futu to explore a stablecoin-based corporate cross-border payment solution in the sandbox in July last year.

U.S. Stock Figma Soars 250% on its Debut Day; Alleged Figma Founder Address Holds AGLD Tokens Worth Over $1.7 Million

On August 1, according to rockflow data, U.S. stock newcomer Figma surged 250% on its debut day, closing at $115.50. It further rose by 24.2% in after-hours trading, reaching $143.45. Figma had stated in its filed prospectus that the company had been authorized to issue "Blockchain Common Stock." Additionally, Figma disclosed in early July that it holds nearly $70 million in a Bitcoin ETF and has been approved to repurchase an additional $30 million in Bitcoin. Furthermore, according to Arkham data, an address allegedly belonging to Figma's founder, Dylan Field, holds over 2.3 million AGLD tokens worth $1.76 million, making it the largest holding in the address. Besides AGLD, the address also holds ETH, PEOPLE, and LOOT NFT. Related Article: "Figma, Silicon Valley's Aesthetics-Oriented Unicorn that First Opened the On-chain IPO Channel"

「Chonky Penguin」 CEO Reveals Team's Participation in U.S. Cryptocurrency Legislation; SEC Officially Confirms Receipt of Canary PENGU ETF Application

On July 31, 「Chonky Penguin」 Pudgy Penguins CEO Luca Netz revealed in an interview that 「Pudgy Penguins」 and the Abstract team have officially participated in U.S. cryptocurrency legislation as government advisors and have released recommendations. Team members have visited Washington D.C. multiple times in the past three months and have submitted a PENGU ETF application. The ETF will not only include the PENGU token but also NFTs. On August 1, the U.S. Securities and Exchange Commission (SEC) officially confirmed the receipt of the Canary PENGU ETF application. This ETF is the first Meme token and NFT hybrid spot ETF. As Wall Street's interest in it grows, market participants expect a decisive moment at the intersection of digital assets and traditional finance to arrive soon.

CEA Industries and 10X Capital Announce $500 Million Private Placement Supported by YZiLabs to Establish BNB Strategic Reserve

On July 28, according to official sources, CEA Industries (NASDAQ: VAPE) and 10X Capital announced a $500 million private placement with the support of YZi Labs to establish the world's largest publicly traded BNB financial company. The financing consists of two parts: Common Stock PIPE Financing: total of $500 million ($400 million cash + $100 million worth of cryptocurrency); Warrant Exercises: If all exercised, an additional $750 million cash financing is expected. Officials stated that this PIPE received oversubscription from over 140 global institutions, with key participating institutions including: YZi Labs, Pantera Capital, Arche Capital, and others. On that day, in response to the news of the $500 million private placement to establish a BNB treasury, the stock of CEA Industries (VAPE) on the U.S. stock market rose by 548.85%. It is worth noting that the company's stock price closed at just $8.88 last Friday, with a market capitalization of only $7.4669 million. Related Readings: "Can BNB Treasury Controlled by the Richest Chinese Rebound Another 600% After Surging?", "Over 140 Institutions Oversubscribed the $500 Million Financing, is There a New Entrance for BNB on Wall Street?"

Bridgewater Founder Ray Dalio Sells Remaining Stake and Will Step Down from Board

On August 1st, according to Reuters, Bridgewater Associates founder Ray Dalio sold his remaining stake in the fund. Bridgewater hedge fund was founded by him 50 years ago and the transaction marks the end of a multi-year transition for the world's largest hedge fund with $92.1 billion in assets under management. The 76-year-old Ray Dalio stepped down as CEO in 2017 and transferred control of Bridgewater hedge fund to a new generation of investors in 2022. A source said that Ray Dalio will also step down from the board. Related article: "Ray Dalio Officially Retires: Sells Remaining Stake, Steps Down from Board"

Justin Sun to Complete Space Travel aboard Blue Origin's Spaceship on August 3rd

On July 31st, TRON founder Justin Sun announced on X platform that he will fly to space on Blue Origin's New Shepard on August 3, 2025, becoming the youngest Chinese astronaut in history. In 2021, Justin Sun successfully bid $28 million for the first crewed flight seat of "New Shepard" and donated all bidding funds to Blue Origin's "Club for the Future" to support global youth STEM education.

PayPal's New Feature Allows U.S. Merchants to Accept Over 100 Cryptocurrencies

On July 28th, according to Fortune, fintech giant PayPal announced on Monday the launch of a new payment option that allows U.S. small and medium-sized merchants to accept over 100 digital assets, including mainstream cryptocurrencies like Bitcoin, Ethereum, and even meme coins like TRUMP and FARTCOIN. A company spokesperson stated that all U.S. merchants using PayPal's online payment processing platform can access this feature. PayPal plans to expand its cryptocurrency payment service to U.S. and global large enterprise customers but has declined to disclose a specific timeline.

Industrial Bank Discusses Stablecoin Research at Half-Year Work Conference

On July 28th, according to 21st Century Business Herald, Industrial Bank recently held its half-year work conference for 2025, proposing to embrace technological change, research stablecoins, engage in "AI+", promote "Data Element X," lay a solid foundation, take bigger steps on the path of digital transformation, and accelerate the transition from "digital Industrial Bank" to "smart Industrial Bank."

Sichuan Court in China Tries Virtual Currency Forex Resale Case Involving Over 2 Billion RMB

On July 30, it was reported that from 2020 to 2021, the defendants Wan Moyuan, Chen Mowen, and Huang Moyuan used virtual currencies such as USDT to illegally trade foreign exchange outside of designated exchange platforms, with a total amount involved reaching 2.34 billion RMB. The three individuals had clear division of labor, using virtual currency to transfer funds between RMB and USD, and completing USD transactions through Hong Kong company accounts. Due to the case involving a new type of crime where virtual currency acted as a forex intermediary, the Muchuan County Court in Leshan City requested the intermediate court to hear the case. On August 28, 2024, the Intermediate People's Court of Leshan City found the three individuals guilty of illegal business operations, sentencing them to thirteen years and six months (consolidated multiple offenses), five years and six months, and two years and six months of imprisonment respectively, and imposed a total fine of 2.1 million RMB. The judgment is currently final.

Details of 1.4 Billion RMB Bribery Case Involving a Beijing Short Video Platform Revealed, Funds Transferred Using Virtual Currency Money Laundering

On July 28, Feng, a former employee of a short video platform company in Beijing's Haidian District, took advantage of his position and colluded with external suppliers to illegally embezzle 1.4 billion RMB in company incentives through exploiting policy vulnerabilities and leaking internal data. The individuals involved further used methods such as registering shell companies and laundering money with virtual currency to transfer the embezzled funds. Feng instructed Tang and Yang to each use eight different overseas virtual currency trading platforms to gradually convert the embezzled funds into Bitcoin and other virtual currencies. Faced with evidence, Feng's group had to surrender over 90 hidden Bitcoins, allowing the company to recover some losses. In the end, Feng and seven others were sentenced by the Haidian District People's Court to between fourteen years and six months and three years of imprisonment for the crime of embezzlement, with corresponding fines imposed. The judgment is currently final.

This Week's Large Funding Rounds: Courtyard, Zodia Markets, Delve, Manifold, Circular Coin Technology, Finloop, Stable, Billions, OpenAI, Subzero Labs

On July 28, according to reports, the New York startup Courtyard completed a $30 million Series A funding round, led by Forerunner Ventures, with existing investors such as NEA and Y Combinator participating.

On the same day, according to official sources, Zodia Markets, a cryptocurrency trading company owned by Standard Chartered Bank (STAN), announced the completion of an $18.25 million Series A funding round, with Pharsalus Capital leading this round, and other strategic investors such as Circle Ventures, The Operating Group, and XVC Tech participating.

On the 30th, Al Agent security compliance platform Delve, founded by two 21-year-old MIT dropouts Karun Kaushik and Selin Kocalar, announced a $320 million funding round at a $3 billion valuation. Insight Partners led the round.

On the 30th, decentralized AI infrastructure Manifold announced a $10.5 million Series A funding round to accelerate the development of its decentralized AI cloud platform Targon. OSS Capital led the round, with participation from Digital Currency Group, Tobias Lütke, and other prominent investors.

On the 30th, RD Technologies announced the completion of nearly $40 million in Series A2 funding, led by Zhongan International, Zhongwan International, Charming Capital, and Hivemind Capital, with participation from Sequoia China, Continual Digital Capital, Junshi Investment, and Guotai Junan International Private Equity Fund.

On the 31st, according to public disclosures from Fosun's Finloop, the company recently closed a Series A funding round of nearly $10 million, with investors including the Solana Foundation and other Web3 industry players.

On the 31st, reports emerged that the new blockchain project Stable, built around Tether's USDT, completed a $28 million seed funding round, co-led by Bitfinex and Hack VC.

On August 1st, the digital identity verification platform Billions announced a $30 million funding round, with participation from Polychain, Coinbase Ventures, Polygon, and others. The funds from this round will be used to build the first universal human-machine and artificial intelligence network.

On the 1st, according to The New York Times, OpenAI raised $8.3 billion, valuing the company at $300 billion, as part of its plan to raise $40 billion this year.

On the 2nd, reports indicated that crypto startup Subzero Labs completed a $20 million seed funding round, with crypto investment firm Pantera Capital leading the round and participation from crypto VC Variant, Coinbase Ventures, and high-frequency trading firm Susquehanna's crypto division.

Top Articles of the Week

"Crypto VC Tells the $2 Trillion Story to Wall Street"

A new financial trend centered around cryptocurrency is rapidly spreading in the U.S. stock market, with many shell companies transforming into "cryptocurrency treasury companies." This transformation has led to a surge in stock prices, attracting top VCs and institutional investors like Pantera and Primitive to aggressively enter the space. This model, known as Digital Asset Treasury (DAT), essentially injects cryptocurrency into publicly traded companies through financial engineering and storytelling to achieve a premium in the capital markets. As market sentiment heats up and the number of projects surges, global capital is racing to integrate assets like Bitcoin into the U.S. stock market and regional markets. However, this trend has also raised concerns about bubble formation, regulatory arbitrage, insider trading, serving as a new escape route for crypto funds.

"Figma, the First Unicorn to Open an On-Chain IPO Channel, Redefining Aesthetics in Silicon Valley"

Figma has not only gained market recognition for its strong revenue growth and robust collaboration products but has also become the first tech company globally to be approved to issue "on-chain common stock." Co-founder Dylan Field, known for his low-key and pragmatic style, has long been focused on cryptocurrency and has laid out an on-chain capital structure. Figma's decentralized exploration contrasts with Robinhood's platform tokenization path, representing two paradigms of on-chain IPOs: embedded governance and asset packaging. In terms of collaboration systems, governance frameworks, and financial structures, Figma is pioneering the future "on-chain company" model in advance, demonstrating the infrastructure reshaping power in the transition from Web2 to Web3.

"Billionaire Chinese CEO's BNB Treasury: After a 600% Surge, Can It Rise Further?"

The narrative of the BNB treasury has been officially established as VAPE, a U.S. small-cap shell company under the Binance ecosystem's background capital, completed a PIPE financing of up to $1.25 billion, transforming into the world's first BNB reserve-listed company, replicating the MicroStrategy model. VAPE's controlling rights have transferred to 10X Capital and YZi Labs, who are jointly orchestrating the narrative, structure, and capital to precisely build a valuation loop. Despite the project receiving extensive institutional support and skyrocketing stock prices, controversies have arisen over hidden warrant dilution, liquidity pressure, and the risks of industry resource concentration. This case has become a typical example of the arbitrage wave in the cryptocurrency capital market structure, highlighting the crypto industry's entry into a financial engineering era of "telling compelling stories and capturing liquidity."

"Hong Kong's Stablecoin Policy Implementation Unveiled: Key Points to Know"

Starting from August 1, 2025, Hong Kong officially launched the application process for stablecoin issuance licenses, marking its entry into a new stage of regulatory implementation. The initial batch of licenses sets a high threshold, emphasizing compliance requirements such as real-name KYC, full reserves, and redemption mechanisms. It is expected that only a few licenses will be issued by the end of the year. The policy explicitly states that stablecoins should serve financial efficiency, cross-border settlement, and Web3 applications, and should not be used as speculative tools. The pegged currencies are open for use, and while a Renminbi stablecoin is legally feasible, careful handling is required. With high market enthusiasm, dozens of Chinese-backed institutions are preparing to apply, with companies like JD.com, Standard Chartered, and Ant Group already in sandbox testing or having clear plans for issuance. Hong Kong is becoming a significant testing ground for global stablecoin regulation and application.

"Kraken Set to IPO: Which Assets Can Be Speculated On?"

With a valuation of $15 billion, Kraken is raising $5 billion and has been hinting at an IPO plan, attracting high market attention, especially after the shadow of SEC and FBI regulations has been lifted. The price of Kraken shares on the private platform Forge has tripled in a year, and retail investors can now participate through SPVs and other means. Its Layer 2 network, Ink, has also gone live, spearheaded by Kraken, with its native token $INK used for ecosystem incentives deeply integrated with CeFi, becoming a potential L2 hotspot narrative. Meanwhile, Kraken is actively expanding into payment, derivatives, and global clearing services to build a comprehensive financial ecosystem in preparation for its listing. If the IPO proceeds, it may trigger another wave of cryptocurrency market excitement.

"Base's Proposal of 'Content Token Fundamentals': Why Did Solana React So Strongly?"

The intense debate between the Base and Solana communities about "content tokens" and meme coins reflects a fundamental disagreement in the crypto world regarding the "fundamental value" of assets. Platforms like Zora are attempting to tokenize content, introducing concepts of creator economies and attention markets. However, most content tokens currently lack sustainable revenue, user bases, and clear governance. Their value heavily relies on hype and emotions, making it challenging to establish a robust ecosystem. Although on-chain attribution mechanisms and decentralized narratives show potential, content tokens are currently mostly speculative assets and have yet to break free from the fate of "all hype." The entire industry is still in an experimental phase of trial and correction.

"The 70x Rekt of the Meme Coin: Can Meme DeFi IMF Bounce Back?"

The Ethereum mainnet MemeFi project $IMF recently experienced a nearly 70x surge followed by a sharp 85% drop, causing a market shock. The downturn was triggered by whale-level sell-offs leading to cascading liquidations, exposing issues with the platform's collateral lending design, especially allowing its native token $IMF to be used as collateral, amplifying risks. On-chain data indicates that the IMF team may have engaged in cash-out activities, leading to questioning from KOLs and the community. While the official statement claimed no systemic losses to the platform and the token staged a strong recovery, controversies surrounding its fund security and trading motives continue to brew, highlighting the vulnerability and governance risks of the MemeFi model.

"When Sotheby's Accepts Cryptocurrency for Real Estate: A New Milestone in the RWA Track"

With the improving U.S. regulatory environment and the structural bottleneck of high-priced low-liquidity real estate markets, cryptocurrency technology is deeply integrating into the real estate industry, giving rise to the "Crypto Real Estate" track. The establishment of a crypto real estate division by Sotheby's International Realty signifies that high-net-worth buyers have begun purchasing luxury homes using pure cryptocurrencies like Bitcoin and Ethereum, ushering in a new paradigm for real estate transactions. Meanwhile, platforms like RealT are utilizing blockchain for real estate tokenization, rental dividends, and on-chain lending, allowing users to interact with real estate assets similar to DeFi. Policy coordination is also accelerating, with the U.S. now permitting compliant crypto assets to be included in mortgage evaluations and exploring crypto mortgages. Despite the maturing infrastructure, on-chain real estate still faces challenges such as high educational barriers, strong volatility, and complex governance, requiring continuous evolution in compliance adoption and user awareness to move towards the mainstream.

"Apart from BNKR, What Other Potential Projects Does Clanker Have?"

Since 2025, Clanker has become Base Chain's most innovative launchpad, incubating a series of projects that merge finance with social, spanning AI, social networking, and on-chain economy, creating a highly narrative ecosystem. Representative projects include the AI-inspired $DRB, with a peak market cap surpassing $38 million; $BRACKY, which uses AI agents for sports predictions; $A0X, simulating Jesse Pollak's smart alter ego; Noice, a social tool for instant rewards; $QR, reshaping attention through auction mechanisms; and Native, building an on-chain AI city. Clanker not only drives the fusion of MemeFi and Mini Apps but also transforms Base into a chain of experimental, financializable, and sustainably narrative-rich content economy.

"After ZORA, Which Related Projects Are Worth Paying Attention To?"

ZORA skyrocketed against the trend after its launch, with its market cap soaring from $30 million to $300 million, becoming the core of a new round of sentiment explosion on Base, sparking heated debates in the market about the legitimacy of "content tokens." Around ZORA, tools such as TBA and ART related to content tokens have gradually garnered attention; Noice, as a tipping-based social Mini App, was invited to participate in an official conference, solidifying its position; Bankr received support from Coinbase Ventures, and AI content narrative is also regaining momentum. Meanwhile, more new content economy experiments focusing on posting and content speculation have emerged on Base, heralding a wave of on-chain experiments around content, social media, and platform native ecosystems that are gradually heating up.

"Bitcoin Ecosystem Heating Up Again, Which 4 Frontlines Should Be Watched?"

The Bitcoin ecosystem has recently experienced a resurgence, with BRC 2.0 taking the spotlight, introducing smart contract functionality for BRC20 through an off-chain executor and set to be formally activated on August 14, triggering strong price surges in projects like Adderrels. Traditional Bitcoin NFT projects such as NodeMonkes, Bitcoin Puppets, have also benefited from the rise, while the rune sector, despite $DOG's pullback, still shows bright spots in its 30-day performance, with Kraken listing and institutional holdings enhancing its visibility. Additionally, CENTS, as a leading art project, has also shown strength. Overall, while the Bitcoin ecosystem is still sluggish, driven by the Chinese-speaking community, BRC 2.0 and content innovation are bringing new momentum.

"$450 Million Raised, Sui Treasury Launched, What's the Story Behind This Company?"

U.S.-listed company Mill City Ventures announced that 98% of the $450 million raised in a private placement will be invested in the SUI token, marking its official transformation into a crypto asset-centric financial institution and launching the SUI Treasury strategy. This funding round was led by hedge fund Karatage, with participation from the Sui Foundation and support from institutions like Galaxy, highlighting strong institutional consensus and confidence in SUI. Karatage has been deeply involved in the early development of the SUI ecosystem, while the Sui Foundation continues to drive network prosperity through fund inflows and ecosystem incentives. With TVL hitting a new high and the coin price rising, SUI is becoming another Layer1 focus backed by mainstream capital after ETH, SOL, and BNB.

"Gold, Bitcoin, and Pokémon Cards: Who Is the 'Perfect Collateral' of This Era?"

The traditional 60/40 investment portfolio has failed, the stock market is becoming more like a casino, bonds are no longer effective for hedging, and young investors are increasingly disillusioned with the old financial system. Jeff Park advocates for investing in scarce, non-fungible, and non-reliant assets on the traditional system as "resistant assets," such as Bitcoin and physical gold. These types of assets can truly achieve risk diversification and resist asset value erosion under financial repression. He believes that investing in Bitcoin is not just about chasing price appreciation, but more about hedging against the devaluation of fiat currency. Meanwhile, options trading can provide investors with more efficient risk management tools to help them benefit in an environment full of uncertainty.

"Uncovering Tom Lee: From Wall Street Social Media Star to Ethereum Microstrategy Builder"

Tom Lee is a seasoned Wall Street strategist known for his data-driven and contrarian views. In his early years, he served as the Chief Equity Strategist at J.P. Morgan before founding Fundstrat and pioneering a Bitcoin valuation framework. He insists on viewing crypto assets as part of a mainstream investment portfolio and believes that the rise of stablecoins signals Ethereum's role as the core infrastructure connecting traditional finance with the crypto world. In 2025, he took on the role of Chairman of the Board at BitMine, promoting the corporate Ethereum treasury model with the goal of acquiring and staking 5% of the total ETH supply, attracting major institutions such as ARK and Founders Fund to make BitMine the public company with the largest ETH holdings globally. Lee emphasizes that compared to ETFs, on-chain treasury companies have stronger structural leverage and strategic leadership, making them the preferred path for institutional positioning in crypto assets in the next stage.

"Forbes: Robinhood Aims to Become the 'One Financial Gateway' for the Younger Generation"

At the legendary estate in Cannes, Robinhood hosted a dramatic crypto-themed event, marking the full-scale deployment of its globalization and blockchain strategy. CEO Vlad Tenev made a star-studded appearance, announcing support for European users to trade stock tokens, the opening of crypto collateral, the acquisition of Bitstamp, and the advancement of a proprietary chain. Robinhood is focusing on "tokenization" to reshape the global financial system and achieve 24/7 on-chain asset circulation. In 2024, its crypto revenue surged to $626 million. Tenev is targeting traditional financial services such as IRAs, mortgage loans, and robo-advisors to create the "one financial tool" for the younger generation. Additionally, leveraging AI entrepreneurship, he is laying out the Harmonic project, combining artificial intelligence with a crypto vision to envision a future where wealth can be autonomously managed.

"The Winklevoss Brothers' Double Bet: Facebook and Bitcoin"

From Harvard elites and Olympic rowers to central figures in the Facebook inception dispute, and further to early evangelists in the crypto space, the Winklevoss brothers have gone through betrayal, lawsuits, high-stakes gambles, and foresight. They chose stock over cash in their settlement with Facebook, eventually reaping a return of hundreds of millions of dollars. Then, at a time when Bitcoin was considered heresy by the mainstream, they made a significant bet and became among the first Bitcoin billionaires. Not only did they invest, but they also built infrastructure, founded the compliant exchange Gemini, propelled the Bitcoin ETF process, and continued to advance the mainstream adoption of the crypto industry through unwavering beliefs and political engagement. Despite being seen as having "missed the opportunity," they have always been ahead of their time.

"Gemini Faces Another JPMorgan 'Roadblock'; Founder Lambastes Bank for Unleashing 'Financial Persecution 2.0'"

The recent dispute between Gemini and JPMorgan Chase reveals the traditional financial institutions' hardline stance against crypto platforms. Tyler Winklevoss accuses JPMorgan of implementing "financial persecution" through tactics such as denying data access and suspending partnerships, sparking industry reminiscences of the "Operation ChokePoint 2.0" initiative. The core dispute lies in the control of banking data and the obligation under the U.S. Consumer Financial Protection Act to safeguard data sharing. Today, banks circumvent regulations through fees, jointly exert pressure on regulatory authorities to restrict crypto firms from obtaining licenses, and intensify the direct conflict between the banking sector and crypto platforms. As the regulatory landscape shifts and political forces realign, this "financial cold war" is heating up.

"Revisiting 30 Years of Tech Stock Returns: Where Will the Next Billion-Dollar Company Come From?"

Over the past 30 years, the value growth in the tech industry has been concentrated in a very few unique companies, which often emerged amid new technological waves, disrupting old paradigms and creating new markets. Investors who blindly apply old logic or market size evaluations often miss out on true growth stocks. Consumer goods, hard tech, and enterprise software each have their own characteristics, but the power law dominates the long-term return pattern. The future billion-dollar companies will be even more unpredictable, deviating further from past patterns, with artificial intelligence opening the door for this new generation of giants. Understanding uncertainty, benchmark rates, and differentiation is key to seizing the next wave.

"The Block Beats In-Depth: The 'Trump Factor' Behind American Bitcoin"

Eric Trump, the son of former President Trump, co-founded the Bitcoin mining company American Bitcoin. He partnered with Hut 8 to build the largest mining platform in the U.S., leveraging the family's influence to expand capital and partnership resources. The company raised $220 million and mined 215 Bitcoins within 3 months of its establishment. Its goal is to accumulate a Bitcoin reserve through low-cost mining and strategic acquisitions. With the Trump administration implementing crypto-friendly policies, this project is seen as a key piece in the family's deepening involvement in the crypto space, using political capital and energy policies to advance industry influence.

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