Important information last night this morning (July 23-July 24)

Accelerate, the new Solana treasury company, plans to raise $1.5 billion, with Joe McCann to serve as CEO

According to Unchained, Joe McCann, founder of crypto hedge fund Asymmetric, will take up the position of CEO at Accelerate, a newly established Solana treasury company. The company intends to go public through a SPAC merger and plans to raise $1.5 billion, of which $800 million will come from PIPE financing and $358.8 million from the SPAC shell company. If the fundraising is successful, Accelerate is expected to become the largest SOL treasury company with 7.32 million SOL (currently worth approximately $1.36 billion). Informed investors revealed that Accelerate's fundraising plan has been in preparation for several months, and the transaction is expected to be completed by the end of 2025.

CryptoQuant: Investors are shifting funds from Bitcoin to Ethereum and altcoins

CryptoQuant posted on the X platform: "For the first time in over a year: Ethereum spot trading volume has surpassed Bitcoin. Last week, Ethereum spot trading volume reached $25.7 billion, while Bitcoin spot trading volume was $24.4 billion, making the ETH/BTC spot trading volume ratio exceed 1 for the first time since June 2024. Investors are shifting their funds to Ethereum and various altcoins."

Two whales/institutions continued to increase their holdings by 43,591 ETH in the past few hours, worth 145 million yuan

According to on-chain analyst Yu Jin's monitoring, two whales/institutions (suspected entities implementing the ETH reserve plan) that have been continuously increasing their holdings of ETH continued to purchase 43,591 ETH (worth 145 million yuan) in the past few hours: The address 0x8eE...b7d increased its holdings by 32,368 ETH (worth 116 million yuan) through FalconX 6 hours ago. Since July 19, this address has accumulated 138,345 ETH (worth 503 million yuan) at an average price of $3,644. The whale/institution that has been accumulating ETH through Kraken since July 14 purchased another 8,223 ETH (worth 29.4 million yuan) 3 hours ago. Since July 14, it has accumulated 58,156 ETH (worth 211 million yuan) at an average price of $3,564.

Pump.fun co-founder: No airdrop in the near future, will share the schedule and details as soon as possible

Pump.fun co-founder Alon said in a live broadcast: "We are eager to reward the community that has supported our platform over the past year and a half. Our goal is to ensure that this airdrop event goes smoothly and is meaningful. This will provide us with an excellent opportunity to strengthen our ecosystem, increase trading volume, and maintain activity over a longer period. This is crucial for reattracting attention and stimulating interest. Although the PUMP airdrop will not happen immediately, we will share the schedule and details as soon as possible."

Huang Licheng's PUMP long position has currently lost over $5.8 million, but he continues to increase his position to go long on PUMP

According to Lookonchain's monitoring, as PUMP continues to decline, Taiwanese singer Huang Licheng (Machi Big Brother)'s PUMP long position has currently lost over $5.8 million, but he is still continuing to increase his position to go long on PUMP.

An institution transferred all 3.75 billion PUMP to Coinbase Prime, losing $700,000

According to on-chain analyst Yu Jin's monitoring, after the co-founder of pump.fun said there would be no airdrop in the near future, the price of PUMP fell from $0.0039 to $0.0031. Just an hour and a half before the decline, an institution transferred all 3.75 billion PUMP (worth $14.3 million) to Coinbase Prime to cut losses. The institution previously obtained these PUMP through private placement at a price of $0.004 using 15 million USDC. This operation caused the institution to lose $700,000 on PUMP (the current value of the 15 million USDC investment has shrunk to $14.3 million).

Asymmetric's Liquid Alpha fund is closed due to huge losses this year

According to CoinDesk, Joe McCann is gradually closing Asymmetric's Liquid Alpha fund, which was previously accused of a significant shrinkage in value this year and has triggered severe criticism online. Joe McCann said on social media that the fund's strategy "is obviously no longer in the interests of LPs". The fund was established for volatile markets and has achieved results in the past. Asymmetric will now "abandon the liquid trading strategy" and instead invest in long-term investments in blockchain infrastructure. Investors in the liquidity fund can choose to exit without considering the standard lock-up period, or transfer their funds to a new illiquid investment structure. He also said that the company consists of multiple investment tools. Although the Liquid Alpha fund is in trouble, other business departments - especially its venture capital strategy - remain intact, and the venture capital department will continue to support early blockchain projects. Previously, unconfirmed social media rumors said that the liquid fund had fallen by 78% this year. Data shows that the volatility of the crypto market has significantly decreased in the past 12 months, which indicates that the digital asset market may be more mature. According to TradingView data, the Crypto Volatility Index (CVI) has fallen by nearly 30%.

Tron Inc. announced that it will ring the Nasdaq opening bell on July 24

According to Globenewswire, Tron Inc. (Nasdaq: TRON) announced that it will hold an opening bell ceremony at the Nasdaq MarketSite in New York's Times Square on July 24, Eastern Time, hosted on-site by TRON founder and Tron Inc. global advisor Justin Sun. This marks the company's official transformation into a technology enterprise focusing on blockchain and digital asset innovation. The company said that this bell-ringing is not only an important milestone in Tron Inc.'s development process but also highlights its long-term vision of driving shareholder value growth through innovation and strategic leadership. The company, formerly known as SRM Entertainment, is currently the listed company holding the most TRX tokens.

Appellate court rules that NFTs are eligible for trademark protection, Yuga Labs case to be remanded for retrial

According to The Block, the U.S. Ninth Circuit Court of Appeals made an important ruling in the case of Yuga Labs suing artist Ryder Ripps. NFTs are "goods" under the Lanham Act and can obtain trademark protection as "goods". The court upheld Yuga Labs' claim to trademark rights for Bored Ape Yacht Club NFTs but vacated the previous judgment of over $8 million in fines against Ripps, requiring the lower court to retry the issue of whether RR/BAYC caused consumer confusion. The case began in June 2022, when Yuga Labs accused Ripps of devaluing its brand by issuing the RR/BAYC series of NFTs. The court rejected Ripps' defense of "expressive art" and First Amendment protection but held that further evidence is needed to prove the possibility of consumer confusion.

FTX's next round of compensation will be implemented on September 30, releasing $1.9 billion in disputed creditor reserves

According to PR Newswire, FTX announced that the next round of compensation registration date is August 15, and it is expected to start implementation on September 30. This round of compensation is for approved Class V customer claims, Class VI general unsecured claims, and newly approved convenience claims since the last compensation. At the same time, the court approved the reduction of the disputed creditor reserve from $6.5 billion to $4.3 billion, releasing $1.9 billion for this round of compensation. The compensation will be implemented through three institutions: BitGo, Kraken, and Payoneer. Creditors need to complete KYC verification, submit tax forms, and select a designated compensation channel by August 15. For transferred claims, procedures must be completed before the registration date and pass the 21-day objection period. After the funds arrive in the service provider's account, they will be managed by the creditors themselves.

Trump: Will impose simple tariffs of 15% to 50% on most countries

According to Jinshi, on July 23 local time, U.S. President Trump said that he will impose simple tariffs of 15% to 50% on most other countries in the world. Trump also said that the United States is engaged in serious negotiations with the European Union, and if they agree to open up to U.S. companies, the United States will allow them to pay lower tariffs.

Tether CEO: The company is planning to conduct business in the United States, focusing on the institutional market

According to Bloomberg, after the passage of landmark cryptocurrency legislation in the United States, Tether Holdings SA plans to re-engage in business in the United States, focusing on the U.S. institutional market. The company's CEO Paolo Ardoino said that Tether's U.S. domestic strategy will provide efficient stablecoins for payments, interbank settlements, and transactions. Ardoino said that Tether is not interested in becoming a listed company and will continue to focus on emerging markets where it may have more advantages than competitors as it plans to expand into the United States.

Tesla's Q2 financial report shows that the value of its Bitcoin holdings has risen to $1.2 billion

According to CoinDesk, Tesla (TSLA)'s financial report shows that with the 30% rise in Bitcoin prices in the second quarter of this year, its Bitcoin holdings are currently worth about $1.2 billion, which is beneficial to Tesla due to the adjustment of U.S. accounting standards for digital asset processing. According to BitcoinTreasuries.Net data, Tesla currently holds 11,509 Bitcoins, making it the tenth largest listed company holding Bitcoin on its balance sheet. Previously, corporate holders were required to report cryptocurrency assets at the lowest value during the holding period, which could not reflect market recovery. Even if Bitcoin rebounded, the gains were not reflected on the balance sheet. However, the new standards approved by the Financial Accounting Standards Board allow companies to report the fair value of cryptocurrency holdings quarterly starting from the first quarter of 2025. Now Tesla can recognize gains quarterly, allowing shareholders to better understand asset performance.

The White House's first crypto policy report will be publicly released on July 30

Bo Hines, executive director of the Trump Digital Assets Advisory Committee, said on the X platform that the President's Digital Assets Task Force has completed the 180-day report (the first crypto policy report), which will be publicly released on July 30.

Coinbase will list JITOSOL and MPLX

According to Coinbase Assets, Coinbase will start supporting the transfer and trading of Jito Staked SOL (JITOSOL) and Metaplex (MPLX), two Solana network (SPL tokens) assets, on or after 9:00 a.m. Pacific Time on July 24, 2025, subject to liquidity conditions. The official reminds users not to send related assets through other networks to avoid fund loss. The trading pairs for JITOSOL and MPLX will be listed in phases, and support in some regions may be limited.

U.S. government AI.Gov official website officially launched, focusing on Trump's AI strategy

The U.S. government launched the new AI.Gov official website today, systematically introducing the "U.S. AI Action Plan", which proposes three pillar strategies: "accelerating innovation, building AI infrastructure, and leading international AI diplomacy and security". The plan, led by the Trump administration in the early stage of its second term, emphasizes enhancing national AI competitiveness by reducing regulations, supporting open-source AI, strengthening infrastructure and international cooperation, and promoting the application of AI in key fields such as healthcare, manufacturing, and national defense to consolidate the U.S.'s global AI leadership.

Block is officially included in the S&P 500 index today, holding 8,584 Bitcoins

According to CNBC, payment giant Block Inc. will officially join the S&P 500 index today. Block currently holds 8,584 Bitcoins on its balance sheet, continuing to implement its digital asset strategy.

BitMine launches BMNR options trading on the NYSE, plans to acquire 5% of Ethereum supply

According to The Block, Ethereum treasury and crypto mining company BitMine, supported by Peter Thiel and ARK, launched options trading for its common stock BMNR on the New York Stock Exchange on Wednesday. BitMine plans to acquire 5% of the global Ethereum (ETH) supply. The company's stock price has risen sharply since announcing the shift to ETH accumulation. Founders Fund is now the largest shareholder, and ARK Invest also purchased $182 million worth of shares this week for investment in ETH. As of July 17, the total value of ETH held by BitMine has exceeded $1 billion.

Aspecta announces token economics and airdrop time

Aspecta announced the economic model of its native token $ASP, with a total supply of 1 billion tokens. Among them, 45% is allocated to the community and ecosystem, 7.6% will be airdropped to users and community supporters at TGE, 6.7% is allocated to the market and broader blockchain users, 0.7% is used for pre-listing price discovery, 30% is for community and ecosystem growth, 20% is allocated to investors, 15% to early contributors, 3% for liquidity, and 17% to the foundation. The official also announced that the airdrop eligibility and allocation inquiry will open at 15:00 on July 24, and the airdrop tokens can be claimed at 18:00 TGE.

GitHub calls for the establishment of a European sovereign technology fund to support open-source software

According to the GitHub blog, open-source software is crucial to the economy and society as digital infrastructure, but its maintenance funds have been insufficient for a long time. The GitHub developer policy team commissioned Open Forum Europe, Fraunhofer ISI, and the European University Institute to conduct a feasibility study, exploring the promotion of the successful experience of German sovereign technology institutions to the EU level and promoting the establishment of a "EU Sovereign Technology Fund" (EU-STF). The study suggests that the fund should focus on investing in open-source dependencies, maintenance, security, improvement, and ecosystem building, and proposes seven design standards such as a fund pool, low bureaucracy, political independence, flexible funding, community participation, strategic alignment, and high transparency. GitHub calls on the EU to invest at least 350 million euros in the 2028-2035 budget and jointly fund with industries and countries to ensure the sustainable development of open-source software and digital sovereignty.

Trusta.AI responds to third-party contract fraud incident, official $TA token is safe

According to Trusta.AI, a recent external fraud incident involving an unverified third-party contract (0x16d7c6f43df19778e382b7a84bcb8c763971a551) occurred on the blockchain. Trusta and the official $TA token remain safe and intact, with no vulnerabilities or issues found. The attack occurred because the non-open-source contract failed to verify user input, allowing attackers to use authorized users' WBNB tokens to exchange through a self-built WBNB-TA pool and sell their own $TA tokens to illegally obtain WBNB. Trusta.AI advises users to immediately revoke authorization for the contract and promises to repurchase $200,000 worth of $TA to protect users' interests.

Gaia Labs completes $20 million financing, to launch first AI-native smartphone

Decentralized AI infrastructure developer Gaia Labs announced the completion of a total of $20 million in seed and Series A financing. This round of financing was led by ByteTrade/SIG Capital (Susquehanna) and Mirana/Mantle Eco Fund, with participation from EVM Capital, Taisu Ventures, NGC Ventures, and other institutions. Gaia Labs currently supports over 700,000 active nodes, with a total of over 17 trillion inference times, and its network covers thousands of App-Chain domains and blockchain ecosystems. The new funds will be used to launch a decentralized AI smartphone, expand node capacity, improve development toolkits, and promote Web3 integration. Gaia Labs plans to release a limited edition smartphone with local AI inference capabilities within the year. The Gaia AI Phone is based on the Galaxy S25 Edge hardware and can run decentralized AI inference locally without relying on the cloud or data extraction, enabling users to have full control over agents.

H100 Group increases holdings by 117.93 Bitcoins, total holdings reach 628.22

According to H100 Group's announcement, the company purchased an additional 117.93 Bitcoins according to its Bitcoin treasury strategy, with an average purchase price of approximately 1.12 million Swedish kronor per coin, totaling approximately 132 million kronor. Part of this purchase comes from convertible note financing proceeds. As of now, the company's total Bitcoin holdings are 628.22.

White House: Trump will promote the rapid construction of artificial intelligence data centers

White House: Trump will promote the rapid construction of artificial intelligence data centers. The United States will eliminate burdensome AI development regulatory measures. The White House AI plan calls on developers to provide open-source and open-weight artificial intelligence models for free download and modification by anyone in the world.

Canadian listed company Matador receives $100 million financing to accelerate Bitcoin reserves

Canadian listed company Matador Technologies Inc. (Toronto Stock Exchange: MATA) announced that it has received $100 million in financing to accelerate its Bitcoin reserve building. Currently, the first tranche of $10.5 million has been delivered, and all funds will be used to purchase Bitcoin. The company plans to hold 1,000 Bitcoins by 2026, 6,000 by 2027, and aims to hold 1% of global Bitcoin in the long term.

The U.S. Senate Agriculture Committee plans to release a discussion draft on market structure in early September

According to Eleanor Terrett, the U.S. Senate Agriculture Committee, which is responsible for regulating the CFTC and participating in market structure legislation, plans to release its discussion draft in early September. It is reported that the draft will focus on the CFTC's regulatory functions in the field of digital commodities and strive to achieve bipartisan cooperation. It is expected that multiple parties, including senior Democratic members, will participate in the drafting. Yesterday, the Senate Banking Committee released a draft targeting the SEC's regulatory structure, and it is expected that the two bills will be merged in the future.

Nature’s Miracle announces up to $20 million XRP corporate treasury plan

According to PRNewswire, vertical farming technology company Nature’s Miracle Holding Inc. (OTCQB: NMHI) announced that it will establish an XRP corporate treasury plan of up to $20 million. The company will use the proceeds from equity financing from GHS Investments to purchase XRP and meet working capital needs.

CNBC: Goldman Sachs and BNY Mellon to launch tokenized money market funds

According to CNBC, Goldman Sachs, in cooperation with BNY Mellon, has provided institutional investors with the ability to purchase tokenized money market funds. BNY clients can invest in money market funds through Goldman Sachs' blockchain platform, and ownership will be recorded in the form of digital tokens. The project has attracted participation from large fund companies such as BlackRock, Fidelity Investments, and Federated Hermes. The two Wall Street giants believe that the tokenization of money market funds will be the next important breakthrough in the digital asset field, and they will work together to promote the digitization of $7.1 trillion money market funds. Unlike stablecoins, tokenized money market funds provide returns to holders and have become ideal cash management tools for hedge funds, pensions, and enterprises. Executives from Goldman Sachs and BNY stated that this move will lay the foundation for the seamless circulation of money market funds in real-time, digital ecosystems.

U.S. Treasury Secretary Yellen: Trump said he will not fire Powell

According to Jinshi, U.S. Treasury Secretary Yellen said: We are in no hurry to nominate the Federal Reserve Chairman. The Fed's tariff analysis is "somewhat incorrect". (Talking about interest rate decisions) I don't know what the Fed is considering. The review of the Fed may be the establishment of a committee. The Bank of England has done a good job in reviewing its past monetary policies. The frustration of the Fed's mission puts the independence of monetary policy at risk. Trump has said that he will not fire Powell. I am a bit surprised that economist El-Erian said Powell should resign. My regular talks with Federal Reserve Chairman Powell continue. (Talking about Bowman as a candidate for Federal Reserve Chairman) I am unwilling to disclose the candidate's name. Powell has not indicated that he will leave his position on the board. Since the global financial crisis, regulation has been too strict. Trump always has a plan, but it is not always obvious. Trump has created the greatest negotiating leverage on tariffs. The selection of a successor to Governor Kugler is proceeding simultaneously. U.S. Treasury Secretary Yellen (talking about Trump's tariff plan) said the market reaction was relatively calm. U.S. Treasury Secretary Yellen also said: He believes that regional banks have strong contenders for the Federal Reserve Chairman.

MARA plans to issue $850 million convertible bonds for potential Bitcoin purchases and other purposes

According to Globe Newswire, Bitcoin mining company MARA Holdings announced that it plans to privately issue $850 million zero-coupon convertible bonds with a term until 2032. The company will decide the issuance process based on market conditions and plans to provide initial subscribers with an over-allotment option of up to $150 million. The raised funds will be used for potential Bitcoin purchases and other general corporate purposes.

Security agency: An unverified BSC contract was attacked, with losses exceeding $600,000

Blockchain security agency BlockSec Phalcon issued a warning stating that its system detected a series of malicious transactions targeting an unverified contract (0x16d7c6f43df19778e382b7a84bcb8c763971a551) on the Binance Smart Chain (BSC), resulting in losses exceeding $600,000. Since the contract is not open-source, the investigation shows that the vulnerability stems from the lack of slippage protection. Attackers used fake liquidity pools to harvest TA tokens (0x539ae81a166e5e80aed211731563e549c411b140) and sold them in legitimate pools for profit. BlockSec Phalcon strongly recommends that users who have authorized the contract immediately revoke the permission to prevent further losses.

Hyperliquid's total open interest exceeds $14.7 billion, setting a new all-time high

Hyperliquid stated in a post that the total open interest continues to climb, reaching a new all-time high of over $14.7 billion.

Over $50 million USDC destroyed in USDC Treasury

According to Whale Alert, at 18:03 Beijing time, 50,070,482 USDC (approximately $50,055,461) on the Ethereum chain were destroyed in the USDC Treasury.

Arthur Hayes: Cryptopunks will outperform Ethereum in this round

Arthur Hayes, co-founder of BitMEX, posted on the X platform that Cryptopunks will perform better than Ethereum (ETH) in US dollar terms in this cycle because ETH holders will "show off" in the NFT field, which is a game of Internet status. He pointed out that except for food and energy production, the global economy is essentially a competition for status, and the Internet society is no exception.

Tether discloses part of its investment portfolio, the group has invested in over 120 companies

Tether CEO Paolo Ardoino tweeted that Tether disclosed part of its investment and venture capital portfolio today. Overall, the Tether group has invested in more than 120 companies, and it is expected that this number will increase significantly in the next few months and years. These investments are all completed with Tether's own profits ($13.7 billion in 2024) and do not involve USDt and other stablecoin reserves, belonging to the operation of Tether's investment department.

CoinShares obtains EU MiCA license, becoming the first licensed crypto asset management company

According to CoinDesk, European crypto asset management company CoinShares announced that it has obtained the EU's Crypto-Asset Markets Regulation (MiCA) license, becoming the first European crypto asset management company to obtain this license. The license is issued by the French Financial Markets Authority (AMF), enabling CoinShares to provide crypto asset portfolio management services in 27 EU countries, and together with its existing MiFID and AIFM licenses, it forms a triple regulatory qualification. CoinShares stated that this milestone is expected to promote the further opening of compliant crypto investment products in the EU's $38.7 trillion asset management industry. Up to now, the company's assets under management exceed $9 billion, and its stock price has risen by more than 46% this year.

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