New Solana Treasury Company Accelerate Plans to Raise $1.5 Billion, Joe McCann to Become CEO
According to Unchained, Joe McCann, founder of crypto hedge fund Asymmetric, will serve as CEO of the newly established Solana treasury company Accelerate. The company plans to go public through a SPAC merger and intends to raise $1.5 billion in funds, of which $800 million will come from PIPE financing and $358.8 million will come from SPAC shell companies. If the fundraising is successful, Accelerate is expected to become the largest SOL treasury company with 7.32 million SOL (currently worth about $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 Altcoin
CryptoQuant posted on the X platform: "For the first time in more than a year: Ethereum spot trading volume exceeds Bitcoin. Last week, Ethereum spot trading volume reached US$25.7 billion, while Bitcoin spot trading volume was US$24.4 billion, making the ETH/BTC spot trading volume ratio exceed 1 for the first time since June 2024. Investors are turning their funds to Ethereum and various Altcoin."
According to the monitoring of on-chain analyst Yu Jin, two whale/institutions that continue to increase their holdings of ETH (suspected entities implementing the ETH reserve plan) have continued to purchase 43,591 ETH (worth 145 million yuan) in the past few hours: Address 0x8eE...b7d increased its holdings of 32,368 ETH (worth 116 million yuan) through FalconX 6 hours ago. This address has accumulated a total of 138,345 ETH (worth 503 million yuan) since July 19, with an average price of 3,644 US dollars. The whale/institution that has been hoarding ETH through Kraken since July 14 purchased another 8,223 ETH (worth 29.4 million yuan) 3 hours ago. Since July 14, a total of 58,156 ETH (worth 211 million yuan) has been hoarded, with an average price of 3,564 US dollars.
Alon, co-founder of Pump.fun, said in the live broadcast: "We are eager to reward the community that has supported our platform over the past year and a half, and our goal is to ensure that this airdrop event goes smoothly and makes it meaningful. This will provide us with an excellent opportunity to strengthen our ecosystem, increase trading volume, and maintain activity over a longer period of time. This is critical to re-attracting attention and stimulating interest. Although the PUMP airdrop will not happen immediately, we will share the schedule and details as soon as possible."
According to Lookonchain monitoring, as PUMP continues to fall, Taiwanese singer Huang Licheng (Machi Big Brother)'s PUMP long position has now suffered a floating loss of more than US$5.8 million, but he is still continuing to increase his long in PUMP.
An institution transferred all 3.75 billion PUMPs to Coinbase Prime, losing $700,000
According to on-chain analyst Yu Jin, after pump.fun Lianchuang said there would be no airdrops in the near future, the price of PUMP fell from $0.0039 to $0.0031. Just one and a half hours before the drop, an institution transferred all 3.75 billion PUMPs (worth $14.3 million) to Coinbase Prime for a loss. The institution had previously used 15 million USDC to privately acquire these PUMPs at a price of $0.004. 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 shuts down after huge losses this year
According to CoinDesk, Joe McCann is gradually closing Asymmetric's Liquid Alpha fund after it was accused of a sharp decline in value this year and sparked severe criticism online. Joe McCann said on social media that the fund strategy "is obviously no longer in the interests of LPs". The fund was set up for volatile markets and had achieved results. Asymmetric will now "abandon liquidity trading strategies" and 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, and although the Liquid Alpha fund is in trouble, other business units - especially its venture capital strategy - remain intact, and the venture capital unit will continue to support early blockchain projects. Previously, unconfirmed social media rumors claimed that the liquid fund fell 78% this year. Data shows that the volatility of the crypto market has dropped significantly in the past 12 months, which indicates that the digital asset market may be more mature. According to TradingView data, the cryptocurrency volatility index (CVI) has fallen nearly 30%.
Tron Inc. Announces 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 Times Square, New York on July 24, Eastern Time, hosted by Justin Sun, TRON founder and global advisor to Tron Inc. This marks the company's official transformation into a technology company focused on blockchain and digital asset innovation. The company said that this bell ringing is not only an important milestone in the development of Tron Inc., 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 with the most TRX tokens.
Appeals Court Rules NFTs Qualify for Trademark Protection, Yuga Labs Case Remanded for Retrial
According to The Block, the U.S. Court of Appeals for the Ninth Circuit made an important ruling in the case in which Yuga Labs sued artist Ryder Ripps, stating that NFTs are "goods" under the Lanham Act and can be protected as trademarks as "goods." The court upheld Yuga Labs' trademark claim to the Bored Ape Yacht Club NFT, but revoked the previous fine of more than $8 million against Ripps, requiring the lower court to re-examine the question of whether RR/BAYC caused consumer confusion. The case began in June 2022, when Yuga Labs accused Ripps of devaluing its brand value by issuing the RR/BAYC series of NFTs. The court rejected Ripps' defense of "expressive art" and First Amendment protection, but believed that further evidence was needed to prove the possibility of consumer confusion.
According to PR Newswire, FTX announced that the registration date for the next round of compensation will be August 15, and it is expected to be implemented on September 30. This round of compensation is for approved fifth-category customer claims, sixth-category ordinary unsecured claims, and newly approved convenience claims since the last compensation. At the same time, the court approved the reduction of the disputed claims reserve from US$6.5 billion to US$4.3 billion, releasing US$1.9 billion for this round of compensation. The compensation will be executed through BitGo, Kraken and Payoneer. Creditors must complete KYC verification, submit tax forms and choose a designated compensation channel before August 15. For the transfer of claims, the procedures must be completed before the registration date and the 21-day objection period must be passed. After the funds arrive in the service provider's account, they will be managed by the creditor.
Trump: Simple tariffs of 15% to 50% will be imposed on most countries
According to Jinshi, on the 23rd local time, US President Trump said that simple tariffs of 15% to 50% would be imposed on most other countries in the world. Trump also said that the United States is in serious negotiations with the European Union and will allow them to pay lower tariffs if they agree to open up to American companies.
According to Bloomberg, Tether Holdings SA plans to resume operations in the United States, focusing on the U.S. institutional market, after the passage of landmark cryptocurrency legislation in the United States. The company's CEO Paolo Ardoino said that Tether's domestic strategy in the United States will provide efficient stablecoins for payments, interbank settlements and transactions. Ardoino said that Tether is not interested in becoming a public company, and as it plans to expand into the United States, it will continue to focus on emerging markets where it may have advantages over its competitors.
Tesla's Q2 financial report shows that its Bitcoin holdings have risen to $1.2 billion
According to CoinDesk, Tesla (TSLA) financial report shows that with the 30% increase in the price of Bitcoin in the second quarter of this year, its Bitcoin holdings are currently worth about $1.2 billion, thanks to the adjustment of US accounting standards on the treatment of digital assets, which is quite beneficial to Tesla. 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 crypto assets at the minimum value during the holding period, which could not reflect the market recovery. Even if Bitcoin rebounded, the gains were not reflected on the balance sheet. The new standards approved by the US Financial Accounting Standards Board allow companies to report the fair value of cryptocurrency holdings on a quarterly basis starting in the first quarter of 2025. Now Tesla can recognize earnings on a quarterly basis, giving shareholders a clearer understanding of asset performance.
The White House's first encryption policy report will be released publicly on July 30
Bo Hines, executive director of Trump’s Digital Asset Advisory Committee, said on the X platform that the President’s Digital Asset Task Force has completed a 180-day report (the first crypto policy report) and will be publicly released on July 30.
Coinbase to List JITOSOL and MPLX
According to Coinbase Assets, Coinbase will begin supporting the transfer and trading of two Solana network (SPL token) assets, Jito Staked SOL (JITOSOL) and Metaplex (MPLX), at or after 9:00 a.m. Pacific Time on July 24, 2025, subject to liquidity conditions. Officials remind users not to send related assets through other networks to avoid losing funds. The trading pairs of JITOSOL and MPLX will be launched in stages, and support may be limited in some regions.
The US government's AI.Gov official website is officially launched, focusing on Trump's AI strategy
The US government launched a new AI.Gov official website today, systematically launching the "American AI Action Plan", proposing three pillar strategies of "accelerating innovation, building AI infrastructure, and leading international AI diplomacy and security". The plan was led by President Trump in the early days of his second term, emphasizing the improvement of national AI competitiveness by reducing regulation, supporting open source AI, strengthening infrastructure and international cooperation, and promoting the application of AI in key areas such as medicine, manufacturing, and national defense, thereby consolidating the United States' global AI leadership.
Block was 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 and continues to implement its digital asset strategy.
BitMine launches BMNR options trading on NYSE, plans to acquire 5% of Ethereum supply
According to The Block, BitMine, an Ethereum treasury and crypto mining company backed 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 its shift to ETH accumulation. Founders Fund is now the largest shareholder, and ARK Invest also purchased $182 million worth of shares this week to invest in ETH. As of July 17, the total value of ETH held by BitMine has exceeded $1 billion.
Aspecta Announces Token Economics and Airdrop Schedule
Aspecta announced the economic model of its native token $ASP, with a total supply of 1 billion. 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 a wider range of blockchain users, 0.7% is used for pre-market price discovery, 30% is used for community and ecosystem growth, 20% is allocated to investors, 15% is allocated to early contributors, 3% is used for liquidity, and 17% is allocated to the foundation. The official also announced that airdrop qualifications and allocation inquiries will be open at 15:00 on July 24, and airdrop tokens can be collected at 18:00 TGE.
GitHub calls for European sovereign tech fund to support open source software
According to the GitHub blog, open source software is vital to the economy and society as digital infrastructure, but its maintenance funds have long been insufficient. The GitHub Developer Policy Team commissioned Open Forum Europe, Fraunhofer ISI and the European University Institute to conduct a feasibility study to explore the extension of the successful experience of Germany's sovereign technology institutions to the EU level and promote the establishment of the "EU Sovereign Technology Fund" (EU-STF). The study recommends that the fund should focus on investing in open source dependencies, maintenance, security, improvements and ecosystem construction, and proposes seven design standards, including funding pools, 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 to jointly fund with industries and countries to ensure the sustainable development and digital sovereignty of open source software.
Trusta.AI responds to third-party contract fraud incident, official $TA tokens are safe
According to Trusta.AI, an external fraud incident involving an unverified third-party contract (0x16d7c6f43df19778e382b7a84bcb8c763971a551) occurred on the blockchain recently. Trusta and the official $TA token remain secure and intact, and no vulnerabilities or issues have been found. The attack was caused by the failure of the non-open source contract to verify user input, which allowed the attacker to use the WBNB tokens of authorized users to exchange through the self-built WBNB-TA pool and sell their own $TA tokens to illegally obtain WBNB. Trusta.AI recommends that users immediately revoke their authorization to the contract and promises to repurchase $TA worth $200,000 to protect the interests of users.
Gaia Labs raises $20 million to launch first AI-native smartphone
Gaia Labs, a decentralized AI infrastructure developer, 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, and participated by EVM Capital, Taisu Ventures, NGC Ventures and other institutions. Gaia Labs currently supports more than 700,000 active nodes, with a cumulative inference of more than 17 trillion times, and the network covers thousands of App-Chain domains and blockchain ecosystems. The new round of funds will be used to launch decentralized AI smartphones, expand node capacity, improve development toolkits and promote Web3 integration. Gaia Labs plans to release a limited number of smartphones equipped with local AI inference capabilities this 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 fully control the agent.
H100 Group increased its holdings by 117.93 bitcoins, bringing its total holdings to 628.22 bitcoins
According to the announcement of H100 Group, the company purchased 117.93 bitcoins according to the Bitcoin Treasury Strategy, with an average purchase price of about 1.12 million Swedish kronor per bitcoin, with a total investment of about 132 million kronor. Part of the purchase came from convertible bond financing. As of now, the company's total bitcoin holdings are 628.22 bitcoins.
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 remove onerous regulatory measures on AI development. The White House AI plan calls on developers to make open source and open-weight AI models available for free to anyone in the world to download and modify.
Canadian listed company Matador receives $100 million in financing to accelerate Bitcoin reserves
Matador Technologies Inc. (Toronto Stock Exchange: MATA), a Canadian listed company, announced that it has received $100 million in financing to accelerate the construction of its Bitcoin reserves. The first $10.5 million has been delivered, and all funds will be invested in Bitcoin purchases. The company plans to hold 1,000 Bitcoins by 2026 and 6,000 by 2027, with the goal of holding 1% of the world's Bitcoins in the long term.
According to Eleanor Terrett, the U.S. Senate Agriculture Committee, which oversees the CFTC and participates 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 members of the Democratic Party, will participate in the drafting. Yesterday, the Senate Banking Committee has released a draft for the SEC's regulatory structure, and the two bills are expected to be merged in the future.
Nature's Miracle Announces $20 Million XRP Corporate Treasury Plan
According to PRNewswire, vertical farming technology company Nature's Miracle Holding Inc. (OTCQB: NMHI) announced that it will set up 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 New York Mellon to launch tokenized money market fund
According to CNBC, Goldman Sachs has partnered with BNY Mellon to provide institutional investors with the ability to purchase tokenized money market funds. BNY clients can invest in money market funds through the Goldman Sachs blockchain platform, and ownership will be recorded in the form of digital tokens. The project has attracted large fund companies such as BlackRock, Fidelity Investments, and Federated Hermes to participate. The two Wall Street giants believe that the tokenization of money market funds will become the next major breakthrough in the field of digital assets, and the two parties will work together to promote the digitization of $7.1 trillion in money market funds. Unlike stablecoins, tokenized money market funds provide returns to holders and become an ideal cash management tool for hedge funds, pensions, and companies. Goldman Sachs and BNY executives said the move will lay the foundation for the seamless circulation of money market funds in a real-time, digital ecosystem.
US Treasury Secretary Benson: Trump said he would not fire Powell
According to Jinshi, U.S. Treasury Secretary Bessant said: We are not in a hurry on the issue of the nomination of the Fed chairman. The Fed's tariff analysis is "a little wrong." (Talking about interest rate decisions) I don't know what the Fed is thinking. The review of the Fed may be to set up a committee. The Bank of England has done a good job in reviewing its past monetary policy. The setback in the Fed's mission puts monetary policy independence at risk. Trump has said that he will not fire Powell. Economist El-Erian said that Powell should resign, which is a bit surprising. My regular talks with Fed Chairman Powell are still continuing. (Talking about Bowman as a candidate for Fed chairman) Reluctant to reveal the name of the candidate. Powell has not yet indicated that he will leave his board position. Since the global financial crisis, supervision has been too strict. Trump always has a plan, it's just not always obvious. Trump has created the biggest negotiating leverage on tariffs. The selection of a successor to Governor Kugler is being carried out simultaneously. U.S. Treasury Secretary Bessant (talking about Trump's tariff plan) The market reaction was relatively calm. U.S. Treasury Secretary Bessant also said: I think regional banks have strong competitors for the Fed chairman candidate.
MARA plans to issue $850 million in convertible bonds for potential Bitcoin purchases, etc.
According to Globe Newswire, Bitcoin mining company MARA Holdings announced that it plans to issue $850 million in zero-interest convertible bonds in a private placement, with a term of 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 funds raised will be used for potential purchases of Bitcoin and other general corporate purposes.
Security agency: A BSC unverified contract was attacked, with losses exceeding $600,000
Blockchain security agency BlockSec Phalcon issued a warning that its system detected a series of malicious transactions against an unverified contract (0x16d7c6f43df19778e382b7a84bcb8c763971a551) on Binance Smart Chain (BSC), causing losses of more than $600,000. Since the contract is not open source, the investigation showed that the vulnerability stemmed from the lack of slippage protection, and the attacker used a fake liquidity pool to harvest TA tokens (0x539ae81a166e5e80aed211731563e549c411b140) and sold them in a legitimate pool for profit. BlockSec Phalcon strongly recommends that users who have authorized the contract immediately revoke permissions to prevent further losses.
Hyperliquid’s total open interest exceeds $14.7 billion, setting a new all-time high
Hyperliquid stated that the total amount of open contracts continued to rise, setting a new historical high again, exceeding US$14.7 billion.
More than $50 million USDC destroyed in USDC Treasury
According to Whale Alert, at 18:03 Beijing time, 50,070,482 USDC (approximately US$50,055,461) on the Ethereum chain were destroyed in the USDC Treasury.
Arthur Hayes: Cryptopunks will outperform Ethereum this round
Arthur Hayes, co-founder of BitMEX, wrote on the X platform that Cryptopunks will outperform Ethereum (ETH) in this cycle in terms of US dollars because ETH holders will "show off" in the NFT field, which is a game of Internet status. He pointed out that in addition to food and energy production, the global economy is essentially a competition for status, and the Internet society is no exception.
Tether announces part of its investment portfolio, the group has invested in more than 120 companies
Tether CEO Paolo Ardoino tweeted that Tether announced some of its investments and venture capital portfolios today. Overall, the Tether Group has invested in more than 120 companies, and this number is expected to grow significantly in the coming months and years. These investments are all made from Tether's own profits (US$13.7 billion in 2024), and do not involve USDt and other stablecoin reserves, and are operations 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 "Markets in Crypto Assets Regulation" (MiCA) license, becoming the first European crypto asset management company to obtain this license. The license was issued by the French Financial Markets Authority (AMF), enabling CoinShares to provide crypto asset portfolio management services within the 27 EU countries, and together with its existing MiFID and AIFM licenses, it constitutes a triple regulatory qualification. CoinShares said that this milestone is expected to promote the EU's $38.7 trillion asset management industry to further open up compliant crypto investment products. So far, the company has managed assets of more than $9 billion, and its stock price has risen by more than 46% this year.
