Important information last night this morning (July 29-July 30)

Radix Founder Dan Hughes Passes Away Unexpectedly; Team Commits to Continuing His Vision

Dan Hughes, founder and original architect of the Radix network, passed away unexpectedly at his home on Sunday evening due to natural causes. Dan Hughes had long been dedicated to innovating decentralized ledger technology and was renowned as a visionary builder and problem-solver. He not only drove the development of core technologies such as Cerberus and the Radix Engine but also earned the respect of the community with his authenticity, humility, and clear vision. The Radix team stated that while Dan's passing is a great loss, the foundation and vision he built will continue to drive the project forward. To ensure a stable transition, Chief Strategy Officer Adam Simmons and Finance Director Jonathan Day will join current CEO Andy Jarrett as directors of the Radix Foundation. The team has called on the community to express their respects in the Radix Telegram or Discord and has announced a brief pause in public discussions to focus on operational stability.

Hyperliquid: Last Night's API Issue Caused by Surge in Traffic; No Hacking or Exploitation Occurred

Hyperliquid announced on Discord that between 22:10 and 22:47 (UTC+8) last night, issues with API servers caused delays in orders being sent to nodes. This was due to a surge in traffic. No hacking or exploitation took place. The issue has been resolved, and further improvements will be made in the future. Additional protective measures will also be added at various levels of the technology stack to detect API server problems, thereby preventing users from encountering unexpected issues.

Anchorage Digital Purchases Over $1.19 Billion in Bitcoin Within 9 Hours

According to Lookonchain, Anchorage Digital purchased a total of 10,141 BTC through multiple wallets in the past 9 hours, with a total value of approximately $1.19 billion.

Ark Invest Purchases Another $15.3 Million in BitMine Shares on Tuesday

According to The Block, Cathie Wood-led Ark Invest purchased an additional $15.3 million in BitMine Immersion Technologies shares through three of its ETFs on Tuesday, following a $20 million purchase the previous day. Last week, Ark Invest also spent $182 million to acquire over 4.77 million common shares of BitMine. Meanwhile, Ark Invest's ARKF fund sold $1.47 million worth of Block Inc. shares. BitMine Chairman Thomas Lee stated that the company's ETH holdings have exceeded $2 billion, moving toward the goal of acquiring and staking 5% of the total ETH supply. Despite BitMine's stock price falling 8.86% on Tuesday, it has surged 650.29% over the past month.

AML Bitcoin Founder Sentenced to 7 Years in Prison for Multi-Million Dollar Cryptocurrency Fraud and Money Laundering

According to The Block, Rowland Marcus Andrade, founder of AML Bitcoin and CEO of NAC Foundation, was sentenced to 84 months (7 years) in prison by a U.S. federal court for wire fraud and money laundering related to the cryptocurrency AML Bitcoin. The court found that between 2014 and 2019, Andrade defrauded investors out of approximately $10 million through false claims about AML Bitcoin's technology, business potential, and launch timeline, and used over $2 million of this for personal expenses such as purchasing real estate and luxury cars. A hearing on victim compensation and asset forfeiture will be held on September 16, 2025.

Hong Kong Monetary Authority: Applications Accepted for Basket of Fiat-Collateralized Stablecoins; First License Expected to Be Issued in Early Next Year

According to National Business Daily, Chan Wai Man, Deputy Chief Executive of the Hong Kong Monetary Authority, stated at a technical briefing on the regulatory regime for stablecoin issuers that the number of stablecoin issuer licenses to be issued in the first phase is uncertain and will depend on the quality of application materials submitted by applicants. It is expected that the first stablecoin issuer license will be issued in early next year, with emphasis that "the threshold for approval is very high." Chan also stated that the Hong Kong Monetary Authority maintains an open attitude regarding fiat currencies, and stablecoin issuers can apply for licenses for stablecoins pegged to a single fiat currency or a basket of fiat currencies, with the key requirement being to specify the fiat currency(ies) during the application.

BTCS Plans to Raise $2 Billion to Increase Cryptocurrency Investments

According to The Block, Ethereum-focused blockchain technology company BTCS Inc. filed documents with the U.S. Securities and Exchange Commission (SEC) on Tuesday, planning to raise up to $2 billion through multiple issuances of common stock for future cryptocurrency acquisitions. Currently, BTCS holds approximately 70,028 ether, worth about $265.3 million. The company stated that the proceeds from this fundraising will be used to purchase digital assets, supplement working capital, and for other corporate purposes. Additionally, BTCS submitted an S-3 statement involving over 5 million common shares, expecting to receive approximately $12 million through warrant exercises. BTCS is committed to continuously accumulating Ethereum assets and generating income through diversified strategies such as capital markets, staking, and block building.

Linea Announces Token Allocation Details; 9% to Be Distributed to Users via Airdrop

Linea project lead Declan Fox posted on X stating that the team has clarified that 10% of tokens will be allocated to early contributors, with 9% going to users who participated in Linea voyages and earned LXP. Eligibility criteria and a checker will be announced before TGE, with snapshots completed and sybil filtering performed. This airdrop will not involve CEX listings, InfoFi, or other dilutions, and the team and investors will not receive allocations. Another 1% will be allocated to strategic builders, managed at the discretion of the Linea team, which can be used to incentivize dapps and the community. Liquidity provider-related rewards are included in the 75% ecosystem fund, with details on LXP-L to be announced by the alliance. Of the 22% circulating supply, 12% (excluding the airdrop) will be used for exchange liquidity, market making, partnerships, and other governance initiatives, with the ecosystem fund having a 10-year unlocking period. According to Linea.eth, LINEA is introducing a new L2 tokenomics model featuring ETH as the sole gas token, no internal allocations, no token governance, 85% for the ecosystem, and 15% to the Consensys treasury (locked for 5 years). The project employs a dual burn mechanism where all gas fees are paid in ETH, with 20% of net fees used to burn ETH and 80% used to burn LINEA, creating a direct link between network usage and value growth. The ecosystem fund accounts for 75% of the total supply, managed by the Linea Alliance, with 25% used for ecosystem incentives and the remaining 50% unlocked over 10 years. 10% is allocated to early contributors, with 9% distributed to users via airdrop and 1% incentivizing strategic builders. The TGE circulating supply will account for approximately 22% of the total, around 1.58 billion LINEA, which is 1,000 times the initial circulating supply of ETH.

Multiple Addresses Accumulate 648,000 ETH Worth $2.44 Billion in Half a Month

According to Yu Jin reports, the address 0x3dF…E3E continued to accumulate 12,000 ETH (approximately $45.01 million) through Galaxy Digital 7 hours ago. Since July 19, this address has accumulated a total of 112,972 ETH (approximately $413 million) over 11 days, with an average price of $3,662. It is reported that since July 10, related addresses (not the same entity) that have heavily accumulated ETH through multiple channels have now accumulated up to 648,000 ETH, with a market value of approximately $2.44 billion and a comprehensive average price of around $3,445.

CITIC Securities: Continue to Focus on Issuers Likely to Obtain the First Batch of Stablecoin Licenses

CITIC Securities' research report states that on July 29, the Hong Kong Monetary Authority released a series of documents regarding the stablecoin issuer regulatory regime to be implemented from August 1. The core is the "Guidelines for Licensed Stablecoin Issuers," with the "Summary of the Stablecoin Issuer Licensing Regime" being the most instructive for the current application stage. In terms of timeline, the Hong Kong Monetary Authority encourages interested applicants to contact the regulator by August 31, with mature applicants having until September 30 to apply. Only a single-digit number of first-batch licenses are expected, with implementation likely by the end of the year. It is recommended to continue focusing on two main lines: issuers likely to obtain the first batch of scarce licenses, and platform scenarios that are certain to participate in creating stablecoin use cases.

White House Postpones CFTC Chair Nomination Vote Over Potential Kalshi Directorship Conflict

According to Eleanor Terrett, the White House has postponed a vote on the CFTC chair nomination, allegedly due to concerns over potential conflicts of interest involving nominee Quintenz's team seeking confidential CFTC information related to competitors such as Polymarket and PredictIt while he still served as a Kalshi director.

Coinbase to List BankrCoin (BNKR) on Base Network

Coinbase announced it will add support for BankrCoin (BNKR) on the Base network. Trading will commence on or after 9:00 a.m. Pacific Time on July 30, 2025, if liquidity conditions are met. Once sufficient supply of these assets is available, the BNKR-USD trading pair will be launched in phases. Support for BNKR may be restricted in certain supported jurisdictions.

Coinbase Lists Treehouse (TREE)

Coinbase announced it has added support for Treehouse (TREE) on the Ethereum network (ERC-20 token) with an "experimental" label. Once sufficient supply of this asset is available, the TREE-USD trading pair will be launched in phases. Support for TREE may be restricted in certain supported jurisdictions.

Strategy Completes $2.521 Billion Financing and Purchases 21,021 Bitcoins

According to Business Wire, Strategy completed a $2.521 billion STRC preferred stock IPO on July 29, 2025, the largest IPO in the United States so far in 2025. Net proceeds of $2.474 billion have been used to purchase 21,021 bitcoins at an average price of approximately $117,256 per coin. As of July 30 Beijing time, Strategy holds 628,791 bitcoins, with a cumulative purchase cost of approximately $46.8 billion and an average price of around $73,227. STRC will begin trading on Nasdaq on July 30.

Kraken Seeks $500 Million in Funding at $15 Billion Valuation

According to The Information, cryptocurrency exchange Kraken is currently seeking to raise approximately $500 million at a valuation of $15 billion.

Hong Kong Monetary Authority: 6-Month Transition Period After "Stablecoin Ordinance" Takes Effect

According to RTHK website, the "Stablecoin Ordinance" takes effect this Friday, and the Hong Kong Monetary Authority stated that a 6-month transition period will be set up to handle institutions that already had stablecoin issuance business in Hong Kong before, including issuing temporary licenses to issuers capable of complying with regulatory requirements; if an issuer fails to meet relevant requirements within 3 months after the ordinance takes effect, it must wind down its business in Hong Kong in an orderly manner within 4 months after the law takes effect; if the Monetary Authority is not satisfied that an issuer is capable of meeting licensing criteria and regulatory requirements, the issuer must wind down its Hong Kong business in an orderly manner within one month of receiving a rejection notice. Earlier, the Hong Kong Monetary Authority released multiple documents regarding the stablecoin issuer regulatory regime to be implemented from August 1.

Algeria Bans All Cryptocurrency Activities; Violators Face Imprisonment and Fines

According to Cryptobriefing, Algeria has officially banned all cryptocurrency-related activities through an amended bill, covering everything from holding and trading to mining and promotion. Bill No. 25-10, promulgated on July 24, explicitly prohibits the issuance, sale, purchase, holding, use, and promotion of all crypto assets including Bitcoin and USDT. The bill also criminalizes mining activities, the use of digital wallets, and the operation of cryptocurrency exchanges. The bill aims to strengthen the financial system's protection against crime and terrorism, align with international standards, implement FATF guidelines, and address the popularity of cryptocurrencies among youth and off-grid miners in the south. Under anti-money laundering and counter-terrorist financing laws, cryptocurrency use is classified as a financial crime, with crypto assets uniformly categorized regardless of purpose. Violators face 2 months to 1 year in prison and fines of 200,000 to 1,000,000 dinars, with heavier penalties if related to organized crime.

Bit Digital's AI Infrastructure Company Whitefiber Seeks $132.8 Million IPO

According to Bloomberg, Whitefiber Inc., an artificial intelligence infrastructure subsidiary of cryptocurrency asset management company Bit Digital Inc., is seeking to raise up to $132.8 million through an initial public offering (IPO). According to documents filed with the U.S. SEC by the company on Tuesday, it plans to issue 7.8 million shares at a price of $15 to $17 per share. Based on the outstanding shares listed in the prospectus, Whitefiber would have a market value of $592.6 million if priced at the top of the offering range. The company expects to determine the IPO price during the week of August 4. The prospectus shows that Whitefiber owns high-performance computing data centers and provides cloud-based high-performance computing graphics processor services. The company provides cloud services to clients such as artificial intelligence applications and machine learning developers. After the IPO, Bit Digital expects to hold approximately 77.6% of its outstanding shares.

eToro to Launch Tokenized U.S. Stocks on Ethereum Blockchain

According to investing, trading and investment platform eToro Group Ltd. announced plans to extend trading hours and introduce tokenized U.S.-listed stocks as part of its strategic move toward a tokenized future. During a webinar held on Tuesday, the company revealed that it will offer 24-hour trading, 5 days a week, for the first 100 popular U.S.-listed stocks and ETFs (as underlying assets). This initiative will allow users to trade outside traditional market hours. Additionally, eToro has partnered with CME Group to launch spot-quote futures, currently available in some European markets with plans for further expansion. These contracts offer futures trading based on spot prices with longer expiration dates. Furthermore, the company announced plans to issue U.S. stocks as ERC20 tokens on the Ethereum blockchain, further advancing its tokenization process.

Listed Company 180 Life Plans $425 Million Private Placement and Transformation into Ethereum Treasury Reserve Company

According to PR Newswire, U.S. listed company 180 Life Sciences Corp. (Nasdaq: ATNF) announced its transformation into an Ethereum treasury reserve company, planning to raise approximately $425 million through private equity financing, after which the company plans to rename itself ETHZilla Corporation. Investors in the private equity financing include Harbour Island, Electric Capital, Polychain Capital, GSR, Omicron Technologies, etc. Upon completion of the transaction, Electric Capital will serve as the company's external asset manager and plans to implement a differentiated on-chain yield generation program. The program aims to go beyond traditional ETH staking while maintaining robust risk management, seeking to combine staking, lending, liquidity allocation, and customized private protocols.

Ethena Labs Launches Liquid Leverage, First to Go Live on Aave

According to official news, Ethena Labs announced the launch of Liquid Leverage, a new Ethena integration enabled by partners in the money market, which will first go live on Aave. Users can now deposit 50% sUSDe and 50% USDe into Aave, earning USDe promotional rewards (currently around 12% annual yield) in addition to the normal USDe lending rate and sUSDe's own annual percentage yield (APY).

Twenty One Expected to Add 5,800 Bitcoins Before Listing, Bringing Holdings to At Least 43,500

According to Businesswire, Twenty One Capital, Inc. announced today that following the completion of its business combination, it expects to receive approximately 5,800 bitcoins from Tether prior to Twenty One's planned public listing. This means Twenty One's total holdings will exceed 43,500 bitcoins by the close. These numbers will make Twenty One the third-largest corporate Bitcoin treasury globally. Twenty One has filed a draft S-4 registration statement with the U.S. SEC. Twenty One will seek to trade under the ticker symbol "XXI" following completion of the business combination. Completion of the business combination is subject to customary closing conditions, including approval by CEP shareholders.

Binance to List TREE 1-75x U-Margined Perpetual Contracts

According to an official announcement, Binance Earn, One-Click Buy, Swap Trading Platform, Margin, and Binance Futures will list Treehouse (TREE). Among them, Binance will list TREE 1-75x U-Margined Perpetual Contracts at 22:00 (UTC+8) on July 29, 2025.

Market News: pump.fun Commits to Using 100% of Daily Revenue for Buybacks

According to market news, pump.fun is increasing token buybacks, committing to using 100% of daily revenue for buybacks. Update: Dumpster DAO analysis suggests that pump.fun appears to have used only 1 day's 100% revenue for token buybacks, a model that may be unsustainable.

Bitmine Discloses Its Ethereum Holdings Have Increased to Approximately 625,000

BitMine Immersion Technologies disclosed on X that the company currently holds a total of 192 BTC and approximately 625,000 ETH, meaning the company has added 58,224 ETH, with BMNR's net asset value per share at $22.77. Earlier news, BitMine Immersion announced a $1 billion stock repurchase program.

DEGEN Foundation Explores Phased Destruction of 32.5% of DEGEN Token Total Supply  

The DEGEN Foundation posted on platform X to discuss the phased destruction of 32.5% of DEGEN's total token supply, aiming to address concerns about dilution and inflation, with the goal of achieving long-term sustainability rather than large-scale airdrops in the future. It is currently seeking community opinions. The DEGEN Foundation plans to stably destroy tokens monthly until reaching a quantity suitable for long-term sustainable development, while rewarding long-term holders. The DEGEN Foundation stated that although it currently holds 32.5% of the token supply, which could be used for future airdrops (such as Degen applications or other plans), this would dilute the rights of existing holders, which is inappropriate for long-term token holders.  

SharpLink Discloses Its Total Ethereum Holdings Have Increased to Approximately 438,000 ETH  

NASDAQ-listed company SharpLink posted on platform X that between July 21 and 27, it purchased approximately 77,210 ETH at a total price of about $290 million, with an average purchase price of around $3,756. As of now, it holds approximately 438,190 ETH. The ETH per share (ETH concentration) is currently about 3.4, higher than last week's approximately 3.06. Since implementing the Ethereum treasury strategy on June 2, ETH per share has risen by about 70%, with cumulative staking rewards reaching approximately 722 ETH.  

JPMorgan: Coinbase Reaps Substantial Gains from Partnership with Circle and USDC Ecosystem  

According to CoinDesk, JPMorgan's latest report states that Coinbase's partnership with Circle and its business layout in the USDC stablecoin are generating substantial gains through equity appreciation and high-profit income. The total value brought to Coinbase shareholders by Circle-related businesses is estimated to be between $55 billion and $60 billion, indicating that the market may underestimate the strategic importance of the USDC ecosystem. In the first quarter of this year, Coinbase received approximately $300 million in issuance payments from Circle, exceeding Circle's total net income. JPMorgan estimates that Coinbase's USDC balance on its platform at the end of the first quarter was $13 billion, generating $125 million in revenue at a 20%-25% profit margin; outside the platform, Coinbase and Circle split the income from Circle's reserve fund, with Coinbase earning $170 million in the last quarter at a nearly 100% profit margin. JPMorgan gives Coinbase stock a neutral rating with a target price of $404. In early trading on Tuesday, the stock price was approximately $381.  

DeFi Development Announces Purchase of Approximately 180,000 SOL, Bringing Total Holdings to About 1.18 Million  

According to CoinDesk, listed company DeFi Development announced that it purchased 181,303 SOL between July 21 and 28 at an average price of $155.33, increasing its total holdings to approximately 1.18 million SOL, worth about $218 million.  

Linea Unveils Native ETH Earnings and Burn Mechanisms Ahead of LINEA Token Launch  

According to The Block, Linea, an Ethereum Layer 2 network founded by Consensys, announced several plans before the official launch of its LINEA token, including introducing native earnings for bridged Ethereum, launching a protocol-level Ethereum burn mechanism, designing an Ethereum-centered deflationary token, and establishing an Ethereum ecosystem fund. Among them, the bridged Ethereum native staking function, aimed at "making the network a hub for ETH capital," is expected to launch in October, with staking rewards to be reinvested in the Linea ecosystem. The Linea team stated that approximately 20% of all net transaction fees on Linea paid in ETH will be burned to reduce ETH supply and support value accumulation on Ethereum Layer 1—making Linea the first Layer 2 network to commit to burning ETH at the protocol level. The remaining 80% of net transaction fees will be used to burn LINEA tokens, reducing the fixed supply and making the token deflationary as network activity increases. Additionally, 85% of the token supply will be allocated to the ecosystem, with 10% reserved for early users and 75% gradually distributed through the ecosystem fund. The remaining 15% of LINEA tokens will be locked for five years and owned by the Consensys treasury. The ecosystem fund will be managed by the Linea Alliance, consisting of leading Ethereum institutions such as Consensys, Eigen Labs, ENS Labs, Status, and SharpLink, with more institutions to join later. While the issuance date of the LINEA token has not been announced, it is expected to launch soon. The upcoming token aims to mimic Ethereum's original distribution model while building on ETH's core utility.  

Listed Company ZOOZ Power Announces $180 Million Private Placement to Launch Bitcoin Treasury Reserve Strategy  

According to Globenewswire, energy management solutions provider ZOOZ Power Ltd. (Nasdaq and TASE: ZOOZ) announced today that it will conduct a $180 million private placement (PIPE) with qualified institutional investors to support its plan to launch a Bitcoin reserve strategy. The PIPE is subject to shareholder approval and is expected to sell 180 million common shares and prepaid warrants at $1 per share. Participants in the PIPE include strategic investors such as Pantera Capital, FalconX, Arrington Capital, UTXO Management, ATW Partners, and prominent Israeli investor Alex Rabinovitch.  

Hong Kong SFC: Warns Against Suspicious Investment Products "FoFund," "Fo Coin," and "Taohuayuan NFT"  

The Hong Kong Securities and Futures Commission (SFC) issued an announcement warning the public against suspicious investment products named "FoFund Duoduo No.1," "FoFund Duoduo No.2," "Fo Coin," and "Taohuayuan NFT." These products involve virtual asset investment-related management strategies, digital tokens, and non-fungible tokens (NFTs) related to paintings, respectively. None of these investment products have been approved by the SFC for sale to the Hong Kong public. The SFC noted that the Hong Kong public can access information about these products through their related websites, social media accounts, and mobile applications. Earlier, Caixin reported that Qian Fenglei's Fofund fund wealth management products were shut down.  

Bakkt to Raise $75 Million Through Share Placement to Purchase Bitcoin and Other Digital Assets  

According to Businesswire, Bakkt Holdings, Inc. (NYSE: BKKT) announced that it will issue 6,753,627 shares of Class A common stock and prepaid warrants to purchase up to 746,373 shares of Class A common stock, expecting to raise a total of approximately $75 million. Bakkt intends to use the net proceeds from this offering to purchase Bitcoin and other digital assets in accordance with its investment policy, as working capital, and for general corporate purposes.  

BitMine Immersion Announces $1 Billion Stock Repurchase Plan  

According to PR Newswire, BitMine Immersion Technologies announced today that its board of directors has approved a stock repurchase plan to repurchase up to $1 billion worth of the company's outstanding common stock. This new stock repurchase plan is open-ended, allowing the company to repurchase its shares from time to time in open market and negotiated transactions. The company currently has over $401.4 million in unencumbered cash. As of 10:45 PM ET on July 28, the company holds 625,000 ETH and 192 BTC. As of July 28, the company's fully diluted total number of outstanding common shares is 121,739,533, with a combined net asset value (NAV per share) of cash and cryptocurrencies at $22.76. BMNR's total cryptocurrencies and unencumbered cash amount to $2.77 billion.  

Robinhood CEO's Personal Wealth Grew Sixfold in a Year to $6.1 Billion  

According to Forbes, Robinhood CEO Vlad Tenev's personal wealth grew sixfold in a year to $6.1 billion, partly due to his full investment in the crypto sector as he embarked on a global financial services acquisition journey leveraging tokenized stocks, AI-driven investment businesses, and attempts to control the upcoming $124 trillion intergenerational wealth transfer "channel." Tenev plans to dominate the next-generation investor market in three steps. First, win the active trader market, where investment returns are immediate, as evidenced by Robinhood's current impressive performance. In the medium term, within about five years, he hopes to fully meet customers' diverse financial needs, from credit cards and cryptocurrencies to mortgages and individual retirement accounts (IRAs). The third phase: building the world's top financial ecosystem, expected to be supported by Robinhood's blockchain technology. Preparing for the next day's shareholder meeting, Tenev stated, "The scale of this phase will far exceed the previous two. Opportunities start slowly but will grow exponentially over time."  

USD1 Briefly Deviated from Peg to 0.9934 USDT on Binance  

Market data shows that the stablecoin USD1 on Binance briefly deviated from its peg, dropping to a low of 0.9934 USDT, and has now rebounded to 0.9974 USDT.  

Bubblemaps Warns of Rug Pull Risk in Launchpad Platform "Rugproof"  

According to Cointelegraph, blockchain analysis platform Bubblemaps issued a warning against Solana ecosystem launchpad platform Rugproof. Rugproof claims to protect investors from "Rug Pull" scams, but Bubblemaps alleges that its issuance structure is identical to a "Rug Pull." Bubblemaps pointed out that the project creators sent SOL tokens to 162 wallets, which then purchased 50% of RugProof's token supply—a concentrated token packaging structure similar to many past "Rug Pull" scams. Moreover, key information such as the project team's identity and token economics has not been disclosed, making verification difficult.  

Binance Alpha and Binance Futures to List PlaysOut (PLAY)  

According to an official announcement, Binance Alpha will list and open trading for PlaysOut (PLAY) at 16:00 (UTC+8) on July 31, 2025. In addition, Binance Futures will list PLAY/USDT perpetual contracts with a maximum leverage of 50x at 17:30 (UTC+8) on July 31, 2025. Binance is the first platform to announce the launch of PlaysOut (PLAY) futures trading and display PlaysOut tokens on Binance Alpha. As a listing benefit, all eligible Binance users will receive an exclusive Binance token airdrop. Eligible users need to claim the airdrop through the Binance Alpha event page using Binance Alpha points between 16:00 (UTC+8) on July 31, 2025, and 16:00 (UTC+8) on August 1, 2025.  

Vote on Brian Quintenz's Nomination as US CFTC Chair Cancelled Again  

According to Bitcoin.com, the process of U.S. President Trump nominating Brian Quintenz as the new chair of the Commodity Futures Trading Commission (CFTC) may be hindered again—his name has been removed from the agenda of the Senate Committee on Agriculture, Nutrition, and Forestry. Quintenz, a former CFTC commissioner, currently serves as head of policy for the crypto division at prominent venture capital firm a16z (Andreessen Horowitz). His name was also suddenly removed from the voting list at another meeting of the same committee last week. Although no official reason was given for the removal, it is widely speculated that there may be issues with his nomination.  

Hong Kong Monetary Authority Releases Multiple Documents on Stablecoin Issuer Regulatory Regime Effective August 1  

According to an official announcement, the Hong Kong Monetary Authority (HKMA) today released multiple guidelines and explanatory documents regarding the stablecoin issuer regulatory regime to be implemented from August 1, 2025: the consultation conclusions on the "Guidelines for Licensed Stablecoin Issuers," the consultation conclusions on the "Guidelines on Anti-Money Laundering and Counter-Terrorist Financing (Applicable to Licensed Stablecoin Issuers)," the "Summary of the Stablecoin Issuer Licensing Regime" related to the licensing system and application procedures, and the "Summary of Transitional Provisions for Existing Stablecoin Issuers." The two sets of guidelines will be gazetted on August 1, 2025. With the official entry into force of the regulatory regime, market participants must comply with the "Stablecoin Ordinance" and related guidelines. The HKMA encourages institutions intending to apply for a license to contact the HKMA via the official email address by August 31, 2025, to allow the HKMA to communicate regulatory expectations and provide appropriate feedback. Licensing will be an ongoing process; if individual institutions believe they are fully prepared and wish to be considered early, they should submit applications to the HKMA by September 30, 2025. The HKMA reminds market participants to exercise caution in public communications, avoiding statements that may be misunderstood or create unrealistic expectations. Under the "Stablecoin Ordinance," falsely claiming to be a licensee or applicant is illegal. As of today, the HKMA has not issued any licenses. The public can refer to the list of licensed stablecoin issuers published on the HKMA's website in the future. The public should remain vigilant against any stablecoin issuers claiming to be regulated or licensed in Hong Kong, as well as those claiming to be applying for a license. The public bears their own risks if holding unlicensed stablecoins.

Disclaimer: The views expressed in this article only represent the personal views of the author and do not constitute investment advice from this platform. This platform does not make any guarantees regarding the accuracy, completeness, originality, and timeliness of the information in the article. Nor does it assume any liability for any losses arising from the use of or reliance on the information in the article.