BlockBeats will organize the key industry news content of the week (7.7-7.13) in this article, and recommend in-depth articles to help readers better understand the market and learn about industry trends.
Important News Review
The market rebounded sharply this week, with Bitcoin approaching $120,000 and Ethereum breaking through $3,000
On July 11, Bitcoin broke through $118,000, setting a new record high, with a 24-hour increase of 6.25%; ETH stood above $3,000 for the first time since February this year, with a 24-hour increase of 8.8%. At the same time, Altcoin saw a general rise, BANANAS31 hit a record high, and MAGIC, ENA, PENGU and other tokens rose by more than 20%. The total market value of cryptocurrencies exceeded $3.7 trillion, with a 24-hour increase of 1.2%. Related reading: "Bitcoin is about to reach $120,000, who is driving a new round of increases?" , "ETH returns to $3,000, and mainnet meme players have made a lot of money"
PUMP completed the public sale of tokens, raising $500 million in financing in just 12 minutes, and over 200 addresses subscribed for over $1 million
On July 9, pump.fun officially announced that it would launch the public sale of pump.fun's native token PUMP, raising $600 million at a valuation of $4 billion. The maximum supply of PUMP is 1 trillion, of which 33% will be sold through ICO, 24% will be reserved for community and ecosystem programs, and 20% will be allocated to project teams, etc. In this ICO, 18% will be privately sold to institutional investors and 15% will be publicly sold to the public, with exactly the same sales terms: each token is sold at $0.004.
On the 12th, the public sale of PUMP tokens worth $500 million was completed in just 12 minutes. According to the official website, 12.5% of the tokens were sold in this public sale, raising $500 million, which is different from the previously announced plan to sell 15% of the tokens and raise $600 million. So far, pump.fun has not publicly clarified the reason for the difference. According to @Adam_Tehc data, there were 202 addresses with a subscription amount of $1 million in the official website pre-sale, 138 addresses with a subscription amount of $500,000 to $1 million, and the largest number of users with a subscription amount of less than $1,000 was 5,758. It is worth noting that the tokens of Pump.fun's competitor BONK continued to rise, and GP rose by more than 72.5% in 24 hours to a record high. Related reading: "Pump.fun's coin issuance, is it the turning point or the end of the Meme track?" , "$UESSLESS hits a new high again, and the Bonk ecosystem has become the biggest winner of Pump's coin issuance?"
GMX lost about $42 million in assets after being stolen. The hacker later returned 90% of the funds and began to "launder" the remaining funds.
On July 9, according to the monitoring of on-chain analyst Ember, the perpetual trading platform GMX was stolen from assets worth about $42 million, and the initial funds of the hacker address that stole the assets were transferred from Tornado. On the same day, GMX left a message to the hacker on the chain, admitting that it had encountered its own loopholes and was willing to provide a 10% white hat bounty. If the remaining 90% of the funds were returned within 48 hours, no further legal action would be taken. On the 11th, the GMX hacker left a message saying that the funds would be returned. Subsequently, the hacker returned $40.5 million worth of stolen crypto assets, including 10,000 ETH and 10.5 million FRAX. At the same time, the hacker retained nearly $5 million in profits from the rise in the price of the currency (ETH) as a white hat bonus. Currently holds 1,700 ETH, worth about $5.12 million. According to monitoring by Aunt Ai, an on-chain analyst, these 1,700 ETH have begun to be "cleaned" through the mixer. Related reading: "GMX was stolen for $42 million. How to ensure the security of DeFi?"
BR plunged in half in a short period of time on Wednesday, and its daily trading volume accounted for 65% of Alpha; the official said that it would airdrop up to 200 USDT compensation to affected users
On July 9, BR plummeted by more than 53% in a short period of time. According to the relevant data panel of Binance Alpha, the transaction volume of Binance Alpha reached 433 million US dollars on July 8, of which BR transaction volume reached 282 million US dollars, accounting for 65.12% of Alpha's daily transaction volume. According to the monitoring of Ai Yi, an on-chain analyst, BR liquidity once exceeded 60 million US dollars before the price of the currency plummeted, and 26 addresses withdrew liquidity worth 47.59 million US dollars in just 100 seconds, accompanied by 3 addresses at the million-dollar level and 13 addresses at the half-million-dollar level. The large-scale dumping caused the insufficient liquidity and the currency price to collapse instantly. On the 10th, Bedrock officially issued a statement saying that it would issue special airdrops to affected Alpha Trading users, with a maximum of 200 USDT per wallet. Related reading: "Binance Alpha Reappears "Instant Collapse": BR Tokens Cut in Half in 10 Minutes, Who Cleared the Position with One Click?"
Ethereum Foundation publishes a paper outlining the future development strategy of the ecosystem
On July 10, the Ethereum Foundation published a blog post titled "The Future of EF Ecosystem Development". The Ethereum Foundation has two main vision goals: to maximize the number of people using Ethereum so that they can benefit from the underlying value of Ethereum; to maximize the resilience of Ethereum's technical and social infrastructure. The Foundation will focus on four key areas, including the establishment of four new teams focused on ecosystem acceleration, covering corporate relations, developer growth, applied research, and founder support. The Foundation will also strengthen its ecosystem expansion efforts, continue to provide funding support, and work to address global adoption barriers. Related reading: "After Ethereum returns to $3,000, how will the Foundation restructure its team and ecosystem planning?"
Circle and OKX have reached a strategic cooperation, OKX will support 1:1 instant exchange service between USD and USDC
On July 9, according to official news, Circle Internet Group (NYSE: CRCL), the issuer of stablecoin USDC, and OKX announced a strategic partnership. The two parties will jointly enhance the two-way exchange liquidity between the US dollar and the USDC stablecoin. This cooperation will enable OKX's 60 million users around the world to enjoy 1:1 instant exchange services between the US dollar and USDC in all product lines of its platform. Related reading: "The secret war of stablecoins escalates: Circle joins hands with trading platforms to build a USDC "shadow alliance""
Trump is expected to have his first major legislative victory on cryptocurrency policy next week
On July 11, it was reported that Trump is expected to have his first major legislative victory on cryptocurrency policy next week. The U.S. House of Representatives is expected to vote on the Senate's GENIUS Act early next week. The bill aims to establish the first U.S. regulatory framework for so-called "stablecoins" pegged to the U.S. dollar. The bill passed the Senate with bipartisan support last month and is expected to become the first major cryptocurrency regulation adopted by the U.S. Congress. Trump's signing of the stablecoin bill could bring a major boost to the crypto industry, which has long struggled to enter the mainstream.
SEC accelerates the formulation of universal listing standards for crypto ETFs, and the "gate"of Altcoin ETFs is about to open
On July 9, it was reported that as the U.S. Securities and Exchange Commission considered speeding up the approval of a unified listing framework, the "gates"of Altcoin crypto ETFs are about to open. Earlier, according to crypto journalist Eleanor Terrett, the U.S. Securities and Exchange Commission is working with various trading platforms to develop universal listing standards for cryptocurrency ETFs, which is still in the early stages. If the cryptocurrency meets the standards, the issuer can skip the 19b-4 process and submit the S-1 document directly, and wait 75 days for the trading platform to put it online. This method can save the issuer and the SEC a lot of paperwork and time for repeated solicitation of opinions. Related reading: "The U.S. SEC is brewing a fast track, SOL, XRP, and ETF are about to "open the floodgates"? "
"ETH version of MicroStrategy" Sharplink Gaming acquires 10,000 ETH from the Ethereum Foundation; the latter stated that the funds will be used for core operations and activities
On July 11, Sharplink Gaming, the "ETH version of MicroStrategy", announced that it had purchased 10,000 ETH directly from the Ethereum Foundation at an average purchase price of $2,572.37. The transaction was completed on July 10, 2025. The Ethereum Foundation confirmed the matter on the same day and stated that the funds from the sale of ETH would be used for core operations and activities. Influenced by this news, SBET's pre-market share price rose by more than 10%. Related reading: "ETH Reserve Company Becomes the New Favorite of US Stocks, Deep Digging into the Behind-the-Scenes Driving Forces of 4 Star Companies"
Linea Project Leader: Announcement later this month will be related to TGE
On July 12, Linea project leader Declan Fox posted on social media that he was ready to deliver on the LINEA plan released in Bangkok and would release a detailed announcement later this month. When community members asked whether it was related to TGE, Declan Fox replied "Yes" to confirm.
Mai Gang, the first investor of Pop Mart: I have a special liking for Bitcoin, and the key lies in the pursuit of essential issues
On July 7, Mai Gang, the first investor of Pop Mart, said in a podcast that Bitcoin was a very important experience in his career. He recalled that at a forum for Renmin University alumni, the host asked him why he had a special liking for Bitcoin, while many "big shots" in the industry, such as chief economists, failed to notice it. Mai Gang said, "When we studied monetary banking, economics, etc., which are courses that every college student (studying finance) will have. From this perspective, Bitcoin is actually very simple. Of course, it must also be a lot of interdisciplinary knowledge, etc., and you don't need a doctorate to understand it. I think the pursuit, questioning and persistence of essential issues are very rare and important. What it is is the most important thing."
Shanghai State-owned Assets Supervision and Administration Commission held a central group study meeting on the development trends and response strategies of cryptocurrencies and stablecoins
On July 10, the Party Committee of Shanghai SASAC held a central group study meeting to study the development trends and response strategies of cryptocurrencies and stablecoins. He Qing, Secretary of the Party Committee and Director of the Shanghai SASAC, pointed out that it is necessary to fully implement the spirit of the Seventh Plenary Session of the 12th Municipal Party Committee, adhere to innovation-driven development, maintain a keen sense of emerging technologies, and strengthen research and exploration of digital currencies. Adhere to the integration of production and numbers, explore the application of blockchain technology in cross-border trade, supply chain finance, asset digitization and other fields, better play the important role of state-owned assets and state-owned enterprises in scientific and technological innovation, industrial control, and security support, and make new and greater contributions to the construction of Shanghai's "Five Centers".
Wuxi Municipal Committee: Exploring the practical path of using stablecoins to empower foreign trade development
On July 7, according to Wuxi's official WeChat account, Du Xiaogang, secretary of the Wuxi Municipal Party Committee in Jiangsu Province, China, presided over a special meeting to promote the city's key reform tasks, in which he mentioned that it is necessary to promote the innovative development of business models. Formulate policies and measures to stabilize foreign trade by category, summarize the successful experience of "going global" enterprises in advantageous sub-tracks such as biomedicine, explore practical paths for stable currency to enable foreign trade development, continuously expand the growth space of digital trade, green trade, and service trade, and improve the development level of cross-border e-commerce, intermediate product trade, and offshore trade.
21st Century Business Herald investigates stablecoin transactions in Yiwu: Most merchants said they have never heard of stablecoins, and only a few merchants support stablecoin payments
On July 8, according to 21st Century Business Herald, there have been recent market news that Yiwu has accepted stablecoins to pay for foreign trade goods. Reporters went deep into Yiwu and conducted on-site visits and surveys on the use of stablecoins. When merchants were asked whether they could use stablecoins for payment, most merchants said they had never heard of stablecoins and did not understand them; only a few merchants supported stablecoin payments. According to previous reports, Huatai Securities' research report showed that in Yiwu, local stablecoins have become one of the important tools for cross-border payments. Blockchain analysis company Chainalysis estimates that as early as 2023, the flow of stablecoins on the Yiwu market chain has exceeded 10 billion US dollars.
Toncoin cooperates with the UAE to provide 10-year golden visas to TON stakers, but the UAE denies the rumor
On July 6, according to market news, Toncoin cooperated with the UAE to provide 10-year golden visas to TON pledgers. The relevant page shows that TON pledgers only need to pay a one-time fee of US$35,000 to obtain a 10-year golden visa. The next day, the UAE Federal Authority for Identity, Citizenship, Customs and Port Security, the Securities and Commodities Authority and the Virtual Asset Regulatory Authority jointly issued a statement saying that reports circulating on certain websites and social media platforms that the UAE granted golden visas to digital currency investors were false news. The issuance of golden visas is based on a clear and officially approved framework and standards, which do not include digital currency investors. The UAE Virtual Asset Regulatory Authority also clarified that TON is not licensed or regulated by VARA.
FTX creditor representative: FTX's total claims are expected to be US$11 billion, and the total claims in restricted jurisdictions are expected to be US$470 million
On July 7, Sunil, a representative of FTX creditors, updated the FTX claim distribution information on the X platform, indicating that the total amount of claims in restricted jurisdictions was $470 million. Chinese investors were the largest group of FTX debt holders, holding $380 million in claims (82% of restricted claims). There were $290 million in unfinished KYC (Bahamas) claims, a total of $660 million in disputed claims, a total of $1.4 billion awaiting claims resolution, and a total of $11 billion in claims that were expected to be allowed. Related reading: "When FTX Chinese creditors are discriminated against, how can they get back $380 million?"
Nvidia becomes first company to surpass $4 trillion in market value
On July 9, Nvidia (NVDA.O) rose by more than 2.5%, and its market value exceeded 4 trillion US dollars, becoming the first company with a market value of over 4 trillion US dollars.
Source: Payment company Stripe may be planning to launch L1 blockchain
On July 7, according to X user @ayyyeandy, "There are rumors that payment service provider Stripe plans to launch an L1 blockchain instead of building an L2 network like Robinhood. There is no official confirmation yet, but I have heard the news from multiple channels (including offline and private messages). Currently, Robinhood is against Coinbase, and Stripe will join the battle soon." Related reading: "Payment giant Stripe may launch an L1 blockchain. What changes will it bring to the market?"
Trump publishes article touting economic achievements: Cryptocurrency "breaks through the ceiling", US stocks hit record highs
On July 10, Trump posted on Truth Social to tout his economic achievements: "Technology stocks, industrial stocks, Nasdaq index hit record highs! Cryptocurrency "breaks the ceiling". Nvidia's stock price has risen 47% since Trump imposed tariffs. The United States is imposing hundreds of billions of dollars in tariffs. The country is now "back". Great honor! The Federal Reserve should quickly lower interest rates to reflect this strength. The United States should be "at the top of the list". No inflation! ! "
US SEC releases statement on securities tokenization
On July 10, the U.S. SEC issued a statement on the tokenization of securities, stating that blockchain technology has opened up a new model for issuing and trading securities in the form of "tokenization". Tokenization has the potential to promote capital formation and enhance investors' ability to use their assets as collateral. However, despite the great potential of blockchain technology, it does not have the "magic" to change the nature of the underlying assets. Tokenized securities are still securities. Therefore, market participants must carefully consider and comply with the relevant provisions of federal securities laws when trading such instruments.
Jack Dorsey launches decentralized chat app BitChat, which supports offline encrypted communication
On July 7, Twitter co-founder Jack Dorsey launched the decentralized peer-to-peer chat application BitChat, which runs on a Bluetooth Low Energy (BLE) mesh network, supports short-term encrypted message transmission, and is completely offline for chats. It has the ability to resist censorship and communication in disconnected environments. Messages can be transmitted through node relays up to 300 meters away. Related reading: "Review of BitChat: The new work of Twitter's founder, is this the "twttr" moment of encrypted communications?"
Tether will stop supporting USDT for EOS, Algorand and other networks on September 1
On July 11, according to an official announcement, Tether will stop supporting USDT for Omni, Bitcoin Cash SLP, Kusama, EOS, and Algorand on September 1, 2025. The announcement stated that this move is part of a broader effort to optimize infrastructure, follow community usage trends, and refocus resources on high-utility, actively developed blockchains.
Web3 BlockBeats survey: 36.6% of job seekers come from 985/211 universities, and the admission rate of fresh graduates to "big companies" is less than 0.28%
On July 9, a survey BlockBeats by BlockBeats showed that among the respondents who participated in the Web3 job search questionnaire, nearly 80% (80.5%) came from 985/211 and ordinary first-class universities, and job seekers with overseas academic backgrounds accounted for 7.3%. From the perspective of professional background, this group of highly educated job seekers is not short of choices. Among the respondents who participated in the Web3 job search questionnaire, 46.34% came from computer and information technology related majors, and 21.95% came from finance and business backgrounds. According to Bitget campus recruitment data, its 2025 campus recruitment project received more than 10,000 resumes, and only 28 fresh graduates were finally admitted to enter multiple core business modules such as technology, products, regional growth, global brands, and global operations, almost covering the entire main chain of encryption business. Related reading: "2025 Web3 Job Market Report: 10,000 people squeeze 28 jobs, how can you win?"
Kinto network attacked: coin price plummeted by more than 90%, with a loss of about $1.55 million
On July 10, the native token K of Kinto, the modular trading platform of the Arbiturm ecosystem, suddenly collapsed violently, and the price plummeted from about US$8 to around US$0.7, a drop of more than 90%. Kinto immediately confirmed that there was a vulnerability in the network, which affected the deployment of K tokens on the Arbitrum chain. On the 11th, Kinto co-founder Ramon Recuero issued a statement on the attack, saying that hackers took advantage of the vulnerability of minting unlimited K tokens on Arbiturm, minted 110,000 K and began to attack to exhaust the Morpho Vault and Uniswap v4 pools. In the end, about US$1.55 million in ETH and USDC was lost, and the price of K tokens fluctuated. At present, the Kinto team has contacted relevant departments to trace the stolen funds. Related reading: "Kinto Crisis Revelation: When smart contract vulnerabilities meet a bull market, how should investors hedge risks?"
Cookie DAO announces new staking and MAF rules and COOKIE token destruction mechanism
On July 11, the AI proxy index platform project Cookie DAO announced new staking and MAF rules and a COOKIE token destruction mechanism, and COOKIE stakers can now receive Snaps rewards. 10-20% of the project's contribution to the Cookie Snaps event reward pool will be used for COOKIE stakers. COOKIE staking will now only generate Cookie points, and staking income will soon stop. When a user locks a COOKIE in the MAF pool, 10% of the locked COOKIE tokens will be destroyed before unlocking. Related reading: "Cookie DAO updates incentive model: airdrops will be linked to staking income, and value capture will enter a new stage?"
Ethena Labs announces that Coinbase International will become the USDe underlying asset hedging platform
On July 10, Ethena Labs announced that Coinbase International Station has become the latest hedging platform for USDe’s underlying assets. “Coinbase International Station’s open interest has recently exceeded $1 billion, providing important liquidity that can diversify the hedging of USDe’s underlying assets through attractive financing rate configurations.”
YZi Labs announces strategic investment in blockchain infrastructure platform Aspecta
On July 10, according to official news, YZi Labs announced a strategic investment in Aspecta, a blockchain infrastructure platform, to provide price discovery and lifecycle liquidity for illiquid assets (such as pre-issued shares, locked tokens, private equity, risk-weighted assets, etc.). Related reading: "Yzi Labs strategically invests in Aspecta: Using "AI+Blockchain" to solve the problem of illiquid assets"
YZi Labs announced that it will support 10X Capital to establish a "BNB Reserve Company"
On July 10, YZi Labs announced that it will support 10X Capital, a leading investment institution focusing on digital assets and digital asset reserve companies, to establish the "BNB Reserve Company". This is an independently operated American company focusing on the management of digital assets in the BNB Chain ecosystem. It is reported that the BNB Reserve Company plans to be listed on major US stock exchanges, aiming to provide American investors with opportunities to access the growth of BNB, the fourth largest digital asset in the world by market value, and will focus on the development of the BNB Chain ecosystem.
Trump's Truth Social to launch utility token and heavily promote its subscription service
On July 10, it was reported that Truth Social, a social media platform founded by US President Trump, recently revealed that the platform will launch a utility token as part of its new loyalty rewards program, linked to its "Patriot Package" subscription plan. The Patriot Package, which is currently in public beta, costs $9.99 per month and provides the following benefits: access to 12 "premium, non-woke" news channels; more on-demand video content; red certification checkmarks on Truth Social; and Truth+ exclusive badges. The free version of the platform, on the other hand, offers 27 channels - 15 more than the paid version, including Euronews and a Spanish channel.
Trump's eldest son invests in social media company Thumzup, which holds cryptocurrency reserves
On July 10, Donald Trump Jr., the eldest son of Trump, bought shares of a loss-making social media company that is building a Bitcoin reserve, the latest investment in the Trump family's "cryptocurrency as a treasury asset" strategy. Los Angeles-based Thumzup Media said in a filing on Wednesday that Trump Jr. holds 350,000 shares of the company, which is worth more than $4 million based on yesterday's closing price of $12.36 per share.
This week's big rounds: Kuru Labs, Agora, Harmonic
On July 7, Kuru Labs, a DEX project in the Monad ecosystem, completed a $11.5 million Series A financing round led by Paradigm. Angel investors include 0xDesigner, Viktor Bunin, etc. The company has raised about $2.2 million in seed funding. Related reading: "Raising $11.5 million, backed by Monad, Kuru wants to write a new paradigm for on-chain transactions"
On July 10, Agora, a stablecoin startup, completed a $50 million Series A financing round, led by Paradigm and participated by Dragonfly. It is reported that Agora hopes to use this money to promote the development of its own stablecoin AUSD. Related reading: "Agora has received $50 million in financing. Why did Paradigm invest in "white label stablecoins"? "
On July 11, artificial intelligence laboratory Harmonic announced the completion of a $100 million Series B financing, with a post-financing valuation of nearly $900 million. This round was led by venture capital giant Kleiner Perkins, with Paradigm also participating in a large amount. Other investors include Ribbit Capital, as well as existing shareholders Sequoia Capital, Index Ventures and Charlie Cheever.
This week's hot articles
Stablecoin, a cashless payment reform for 5 billion people
Stablecoins are quietly changing the global financial ecosystem. From Argentina, Southeast Asia to Africa, millions of people have begun to use stablecoins such as USDT and USDC to save, transfer and pay as a new means to fight inflation and circumvent bank restrictions. In a turbulent economy and a low-penetration banking system, stablecoins have become a practical tool that brings new financial freedom to people without traditional financial access. They have also become a currency substitute in real life scenarios, redefining the meaning of "money".
"Buy Coins" US Stocks in 2025: Madness, Premiums and Arbitrage
In the summer of 2025, the most eye-catching protagonist in the capital market is not the technology giant, but the "strategic currency holding" crypto stocks, especially MicroStrategy, which has written Bitcoin into its balance sheet. Its stock price has soared by more than 200% against the backdrop of Bitcoin's rise, far exceeding traditional technology stocks such as Meta and NVIDIA. Professional traders, institutions and retail investors have participated in the game around strategies such as mNAV premium, volatility arbitrage, and convertible bond hedging, building a new financial narrative around the pricing of crypto assets. Although premiums stimulate speculative frenzy, risks also follow, including financing dilution, structural leverage, and policy variables. In this "coin stock capital game", only companies with real financing capabilities and scale support such as MSTR and Metaplanet can survive in the long run, while most followers face the risk of collapse in a bear market. Bitcoin remains the anchor of this narrative and the ultimate consensus of the market.
Bitcoin mortgage, a new $6.6 trillion blue ocean
Bitcoin is gradually entering the mainstream financial system in the United States, from Cantor Fitzgerald launching a $2 billion Bitcoin mortgage program to FHFA Director Bill Pulte requiring Fannie Mae and Freddie Mac to evaluate the inclusion of Bitcoin in the scope of mortgage collateral, marking its shift from alternative investment products to financial instruments with credit functions. The introduction of Bitcoin in the U.S. real estate system may not only release hundreds of billions of dollars in financing potential, but also provide financial and political support for GSE privatization, housing credit reform and legalization of digital assets. Although policy differences and market risks still exist, crypto assets are challenging the traditional credit assessment system and building a new housing financial order based on on-chain assets.
"When FTX's Chinese creditors are discriminated against, how can they get back 380 million?"
FTX liquidators are pushing a motion to exclude users from "restricted countries" such as China from compensation, and may even confiscate their claims and transfer them into trust accounts, which has triggered strong opposition from Chinese creditors. As a large-scale victim, creditor Will stood up to oppose it, pointing out that the motion violated the principle of equal treatment, had deviations in the application of law, and was taken advantage of by institutions to manipulate panic and buy at a low price. He called on creditors to submit objections as soon as possible before July 15 to avoid losing their voice, and emphasized that only by preventing the motion from passing can the legitimacy and initiative of Chinese users' claims be retained. At present, the FTX debt market is favored by institutions, with a premium of up to 120%, and the arbitrage space is attractive, but the original creditors are facing the risk of being "driven out at a low price", and rights protection has entered a critical stage.
Peter Thiel personally "organized" Erebor to be the "replacement" of Silicon Valley Bank
Peter Thiel, together with Oculus founder Palmer Luckey and Palantir co-founder Joe Lonsdale, are planning to build a new bank called Erebor, which is aimed at high-risk technology companies such as encryption, AI, and defense that mainstream banks avoid. They have applied for a national banking license from US regulators. The project is invested by Founders Fund, continuing Thiel's consistent "Middle-earth naming" and political-financial dual layout. The goal is to establish a compliant but technology-friendly bank middle office in the financial vacuum after the collapse of SVB, and is expected to become one of the first institutions to host stablecoins (such as USDC, RLUSD) with a federal license. Erebor attempts to build a bridge between traditional banks and emerging technologies through institutional windows. It is not just about managing money, but also an interface for reshaping the financial order.
"Fully suppressing Pump.fun, what has LetsBonk done recently?"
The battle of meme token issuance platforms on Solana has entered a new stage. LetsBonk.fun has surpassed its old rival Pump.fun in core indicators such as market share, trading volume, and protocol revenue, becoming the strongest Launchpad on the current chain. The key to its victory lies in the more consensus-oriented mechanism design, the high-frequency interaction of founder Tom, and the real long-term investment of community funds, which have formed a strong community trust. Although Pump.fun has strong income and cash reserves, its $4 billion valuation is being questioned in the face of the rise of LetsBonk. The battle for Launchpad has entered a new game stage where value and emotion coexist.
Driven by companies such as Robinhood, Upexi, and SOL Strategies, the tokenization of U.S. stocks on Solana is advancing rapidly, forming a "coin-stock linkage" experiment that integrates traditional finance and Web3. Upexi and SOL Strategies purchased and pledged SOL on a large scale through PIPE and convertible bond financing, exploring a new path to build corporate valuations with SOL income, and using the Opening Bell platform to try to put company stocks on the chain to promote a three-layer capital circulation structure: equity financing, on-chain liquidity, and DeFi amplification. However, tokenized stocks are still restricted by the whitelist regulatory framework and cannot be freely used for DeFi collateral. Whether they can stably support valuation premiums in the future depends on the true establishment of the on-chain financial closed loop and the continued performance of SOL assets.
Two well-known KOLs in the crypto community have encountered a storm of public opinion for allegedly manipulating meme coins. Lexapro was accused of manipulating multiple projects such as $DEAL and $RICH. After the internal chat records with the Moonshot team were exposed, it was questioned that it failed to pull the market and blamed the project party, which caused strong dissatisfaction in the community. The old KOL GCR was accused by an anonymous account of bribing the Binance coin listing team and hacking into the research institution server to obtain inside information, but there is no conclusive evidence at present. The incident caused players to be angry and disillusioned with the KOL's manipulation behavior, exposing the structural problem of retail investors being frequently harvested in the crypto world.
Ethereum is at a historical turning point, becoming a "deterministic incremental asset" jointly supported by macro policies, institutional funds, technology upgrades and regulatory changes. The Federal Reserve has turned to easing, the ETH ETF has been approved, listed companies such as SharpLink have included Ethereum in their balance sheets, Pectra has upgraded to promote the large-scale expansion of L2, and stablecoin legislation has been implemented worldwide. All these signs indicate that Ethereum is transitioning from "encrypted infrastructure" to "equity carrier of global digital finance." Its pledge income, deflation model and political acceptance have been improved simultaneously, and it is driven by on-chain activity and institutional allocation. It has the potential to break through the cycle in the next 3-18 months.
"A single-day increase of 18%, why did this Bitcoin mining company go all in on Ethereum?"
Bit Digital announced that it would liquidate its Bitcoin and cross margin to Ethereum, which attracted strong market attention. Faced with the sharp drop in Bitcoin mining profits and high energy consumption after the halving, the company transformed and embraced the PoS model, obtaining more stable returns by staking ETH, and plans to continue to increase its holdings of Ethereum on a large scale. The current holdings have exceeded 100,000 ETH. This move is not only an adjustment to the survival model, but also a comprehensive bet on Ethereum's sustainability, profit model and ecological strategic value, indicating that "ETH micro-strategy" is becoming a new capital narrative for listed crypto companies.
"A Ponzi scheme disguised as a stablecoin: a warning from the Xinkangjia 13 billion fraud case"
The "Xinkangjia" project, which used gimmicks such as "PetroChina Cooperation" and "Dubai Exchange", used the stable currency USDT as a funding channel and madly attracted money in third- and fourth-tier cities across the country in the name of "guaranteed principal and high interest". In the end, it was unable to withdraw cash and core members fled overseas. The funds involved may reach tens of billions of yuan, and the victims exceeded 2 million. The essence of this project is a combination of "Ponzi scheme + pyramid scheme + cross-border money laundering". The mastermind behind it, Huang Xin, once used other people's photos and history to be involved in pyramid schemes, and finally ran away through investment immigration. This scam exposed new risks of stablecoin abuse, and once again warned of the dual absence of financial supervision and public vigilance.
Ethereum is moving towards a self-reform, and the Foundation is trying to regain the spirit of decentralization and technical ideals through leadership changes and funding strategy transformation. The core goal is to ensure on-chain privacy and security, strengthen L1 infrastructure, and actively guide the development of cutting-edge fields such as DeFi, AI, and identity verification. In the future, Ethereum hopes to become a trusted platform for global asset trading and modular open source collaboration, and realize true global network governance in a diversified participation and anti-fragile structure. Faced with L2 expansion, real-time blockchain challenges and interoperability issues, the Foundation is moving towards a more proactive path of guidance and technical collaboration.
"Fintech and Cryptocurrency: A Founder's 13-Year Experience in Africa"
Elizabeth Rossiello founded AZA Finance 13 years ago and has witnessed and personally promoted the evolution of African financial technology and cryptocurrency infrastructure, from Bitcoin to stablecoins, from remittance pain points to local currency liquidity solutions. She emphasized that in Africa, "crypto + financial technology" is no longer a future tense, but a real infrastructure. Stablecoins are widely used in cross-border clearing, hedging against local currency depreciation and other scenarios. Her entrepreneurial path also reflects how companies in the global South have won dominance in the financial landscape. At the same time, as one of the few female founders, she tells the story of persistence and breakthroughs in the crypto patriarchal culture.
What did Ethereum builders talk about at EthCC in Cannes?
At the recently concluded EthCC conference, tokenization, privacy protection, and mobile-first became the core focus of ecosystem discussions. Privacy is seen as a prerequisite for institutions to go on-chain, and Coinbase and Ernst & Young have proposed solutions that combine technology with compliance. The tokenization craze has expanded from stocks to commodities, especially gold and uranium, indicating that on-chain settlement will be deeply integrated with traditional assets. At the application layer, mobile-end design is fully dominant, and Wallet and contract trading tools are moving towards a "thumb-first" operating experience. Overall, the crypto industry is shifting from infrastructure debates to design and integration that solves real-world needs.
This is an in-depth interview with CZ that lasted several hours. It started with his hard life in rural China during his childhood, and reviewed his growth, technical background and career experience after immigrating to Canada, especially the whole process of investing in Bitcoin and founding Binance in 2013. He admitted that he missed the Internet wave, but firmly grasped the opportunity of encryption, and made Binance the first in the industry with a global vision, strong execution and firm belief. He emphasized the importance of long-termism and teamwork, maintained trust in the US judicial system, did not avoid the experience of being in prison, and shared his adaptation and reflection in prison. He has faith in the three technologies of Bitcoin, blockchain and AI, believes that encryption will profoundly reshape the global financial structure, and hopes that he can continue to contribute to the development of the industry in the future.
"2025 H1 Crypto Financing Insights: 37 Billion Total Still Led by Top VCs"
In the first half of 2025, the cryptocurrency venture capital market has seen a significant recovery, with total disclosed financing exceeding $37 billion, a record high since the 2021 bull market. Large transactions such as Binance's $2 billion strategic round and Circle's $1.1 billion IPO have pushed the average financing scale to $248 million, and capital flows have also shifted from speculative applications to core tracks such as capacity expansion infrastructure, compliance services, and cross-chain protocols. AI-related projects attracted about $700 million, showing that it has become an emerging hotspot. At the same time, top institutions such as a16z and Paradigm continue to dominate high-valuation rounds, showing that capital is more focused on top platforms and infrastructure construction.
Against the backdrop of repeated regulatory crackdowns on the crypto industry, a political lobbying campaign launched by Bitcoin executives and lobbyists successfully transformed Donald Trump from a skeptic who once denounced Bitcoin as a scam to a staunch supporter. By promoting NFT projects, hosting private dinners at Mar-a-Lago, promising to accept crypto donations, and posting articles on Truth Social in support of Bitcoin mining and stablecoin policies, the industry raised tens of millions of dollars for Trump's campaign and received policy responses such as the White House's strategic crypto reserve. At the same time, companies such as Ripple and Coinbase actively sought influence and tried to include their own tokens in the national reserve, triggering competition and power games within the circle, reflecting the power distribution and real political transactions within the "Trump crypto circle."
Strategy accumulates Bitcoin through the continuous issuance of complex financial instruments such as common stock, preferred stock and convertible bonds. Its so-called "Bitcoin income" actually relies on the continuous introduction of funds from new shareholders to support the asset appreciation of old shareholders. It is a structural Ponzi model. Although the company maintains a high premium on its stock price by innovating narratives, beautifying earnings indicators, and packaging financial products, it actually has no sustainable operating capacity and long-term risks are concealed. The Strategy model is now being emulated by companies on the verge of collapse around the world, giving rise to a wave of "Bitcoin vault company" bubbles. However, this strategy seems to be prosperous in a bull market, but once it enters a bear market, debt repayment pressure, asset depreciation and equity dilution will trigger a systemic collapse. Bitcoin may be worthy of belief, but companies that turn it into an equity arbitrage tool are not truly embracing the spirit of Bitcoin.
Behind what Zelensky wears: predicting the market is turning into manipulating the market
It was an obvious fact that Zelensky wore a suit to attend the NATO summit, but it was rejected by the UMA oracle in the $200 million Polymarket prediction market, revealing the fatal loophole that human-controlled oracles can be manipulated in the face of huge interests. A small number of whales holding a large number of tokens rewrite reality through voting, highlighting that the current decentralized system's recognition of the truth has been distorted by economic incentives. The article calls for the complete removal of human factors and the introduction of an AI-driven, transparent, auditable, and multi-source consensus oracle system to liberate the prediction market from human bias and build a credible fact-finding mechanism for the post-truth era.
Vitalik mentioned in the article that he originally preferred a loose licensing agreement, believing that it could maximize the dissemination of works and be close to the "anti-copyright" concept, but as open source became mainstream, competition in the encryption field became fierce, and technical forces gradually concentrated, he gradually turned to support copyleft. Copyleft can guarantee the free sharing of code in a more mandatory way, promote the diffusion of technology, and curb the monopoly imbalance caused by economies of scale. Compared with the technology diffusion policy promoted by the government, copyleft provides a more neutral and efficient incentive mechanism.
"AI 2027 in the Eyes of Vitalik": Will Super AI Really Destroy Humanity?"
Although the AI 2027 report predicts that superhuman AI will be born as early as 2027 and may destroy humanity, Vitalik believes that this doomsday scenario ignores the reality that technological development is symmetrical, especially in the fields of biodefense, network security, and information anti-interference. As long as humans (or other AI) have corresponding defense capabilities, such as stronger detection mechanisms, security architectures, and information filtering tools, superintelligence does not necessarily have the ability to kill with one strike. More importantly, delaying the evolution of AI, breaking technology concentration, and enhancing localized defense and multipolar information ecology may be more realistic and safer than simply relying on "kind super AI."
From MyStonks to Backed, why are US stocks so eager to tokenize?
In 2025, the tokenization of U.S. stocks exploded rapidly under the joint promotion of technological breakthroughs, the growth of global investment demand and the internationalization strategy of the U.S. dollar, and the market value surged by nearly 2,000%. MyStonks, Backed, Kraken and other platforms promoted the on-chain U.S. stocks through different paths, allowing traditional assets to have new features such as on-chain circulation, 24-hour trading, and global accessibility for the first time. Tokenization not only solves the pain points of high thresholds for cross-border investment and limited trading time, but also injects new application scenarios into stablecoins, introduces real-world asset anchors for DeFi, and promotes the maturity of the blockchain financial ecosystem.
"Russian hosting company Aeza Group has been sanctioned for supporting hackers and the Dark Web"
The U.S. Treasury Department recently sanctioned the Russian bulletproof hosting company Aeza Group, accusing it of providing infrastructure support for ransomware gangs, information theft tools and Dark Web drug markets for a long time. The targets involved include Lumma, RedLine and the fentanyl distribution platform Blacksprut. On-chain analysis shows that its crypto wallet has financial transactions with multiple exchanges and sanctioned entities, reflecting its key role in money laundering and criminal ecology. This action indicates that regulatory crackdowns are extending from the attackers themselves to the service providers behind them. Enterprises need to pay great attention to compliance risks and avoid association with high-risk entities.
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