Today's News Highlights:
Tesla's Q2 financial report shows its Bitcoin holdings have increased to a value of $1.2 billion.
FTX's next round of payments will be executed on September 30, releasing $1.9 billion in disputed claims reserve funds.
Pump.fun co-founder: There will be no airdrop in the near future, and a timeline and detailed information will be shared as soon as possible.
GoPlus launches a $500 million GPS token security fund.
Lido's market share in ETH staking has fallen to 25%, a new three-year low.
The total net inflow for Ethereum spot ETFs yesterday was $332 million, marking 14 consecutive days of net inflows.
The total net outflow for Bitcoin spot ETFs yesterday was $85.9628 million, marking 3 consecutive days of net outflows.
Statistics: Recently, 7 new wallets have cumulatively added 466,253 ETH, worth 1.7 billion yuan.
Regulation/Macro
The White House's first cryptocurrency policy report will be publicly released on July 30.
Bo Hines, Executive Director of the Trump Digital Assets Advisory Committee, stated on platform X that the President's Digital Assets Working Group has completed a 180-day report (the first cryptocurrency policy report), which will be publicly released on July 30.
The Central Bank of Ghana plans to introduce a cryptocurrency regulatory framework to promote the development of digital assets.
The Central Bank of Ghana plans to introduce a licensing system for cryptocurrency platforms to regulate digital assets and capture related revenues. Central Bank Governor Johnson Asiama revealed that the regulatory framework is expected to be submitted to Parliament for review in September this year. The new legislation aims to use cryptocurrencies to facilitate cross-border trade, attract strategic investments, and collect financial data to promote the development of the country's digital asset sector. Previously, it was reported that the Central Bank of Ghana is finalizing a regulatory framework for cryptocurrency trading.
The 90-day correlation coefficient between the Bitcoin volatility index and the S&P 500 VIX has reached an all-time high.
According to CoinDesk, data shows that the 30-day implied volatility index of Bitcoin (BVIV/DVOL) and the S&P 500 volatility index (VIX) have reached a historical high of 0.88 in their 90-day correlation, indicating a significant increase in the correlation between the cryptocurrency market and the volatility of the US stock market. Currently, this correlation coefficient remains at a high of 0.75. Analysts point out that this phenomenon reflects that Wall Street institutions are leading this round of the cryptocurrency market cycle. Markus Thielen, founder of 10x Research, stated that institutional investors are compressing volatility by selling a large number of call options, causing Bitcoin price movements to increasingly be influenced by the risk preferences of traditional markets. So far this year, the BVIV index has fallen from 67% to 42%, while the Bitcoin price has risen 26%, breaking the historical pattern of both moving in the same direction.
Tron Inc. announces it will ring the Nasdaq opening bell on July 24.
According to Globenewswire, Tron Inc. (Nasdaq code: TRON) announced it will hold an opening bell ceremony at Nasdaq MarketSite in Times Square, New York, on July 24 at 9:30 AM Eastern Time, hosted by Justin Sun, founder of TRON and global advisor of Tron Inc. This marks the company's official transformation into a technology enterprise focused on blockchain and digital asset innovation. The company stated that this bell-ringing ceremony is not only an important milestone in Tron Inc.'s development 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 now the publicly traded company holding the most TRX tokens.
The appeals court rules that NFTs are eligible for trademark protection, the Yuga Labs case will be sent back 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, stating that NFTs fall under the 'goods' category under the Lanham Act and can be trademarked as 'goods.' The court upheld Yuga Labs' claims of trademark rights over the Bored Ape Yacht Club NFTs but overturned a previous ruling that imposed over $8 million in fines on Ripps, ordering the lower court to rehear whether RR/BAYC caused consumer confusion. The case began in June 2022 when Yuga Labs accused Ripps of tarnishing its brand value by issuing the RR/BAYC series of NFTs. The court rejected Ripps' defenses regarding 'expressive art' and First Amendment protections but deemed further evidence is required to demonstrate the likelihood of causing consumer confusion.
FTX's next round of payments will be executed on September 30, releasing $1.9 billion in disputed claims reserve funds.
According to PR Newswire, FTX announced that the next round of payment registration date is set for August 15, with execution expected to begin on September 30. This round of payments is aimed at approved Class 5 customer claims, Class 6 general unsecured claims, and newly approved convenience claims since the last payment. The court has also approved reducing the disputed claims reserve fund from $6.5 billion to $4.3 billion, releasing $1.9 billion for this round of payments. Payments will be executed through BitGo, Kraken, and Payoneer. Creditors must complete KYC verification, submit tax forms, and choose designated payment channels by August 15. For claim transfers, procedures must be completed before the registration date and go through a 21-day objection period. Once funds reach the service provider's account, creditors will manage them independently.
Trump: A simple tariff of 15% to 50% will be imposed on most countries.
According to Jinshi News, on the 23rd local time, U.S. President Trump stated that a simple tariff of 15% to 50% will be imposed on most other countries. Trump also mentioned that the U.S. is in serious negotiations with the European Union, and if they agree to open up to U.S. companies, the U.S. will allow them to pay lower tariffs.
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