Coinbase Releases Q2 Financial Report: Net Profit Reaches $1.43 Billion, Far Exceeding Last Year's Same Period, but Trading Revenue Drops 39% Quarter-on-Quarter
According to Coinbase's latest quarterly report, the previously exposed user data breach ultimately caused a loss of $307 million. Q2 overall performance is as follows: · Net profit reached $1.43 billion, far exceeding $36 million in the same period last year · Total trading volume of $237 billion, slightly increased from $226 billion in the same period of 2024 · Quarter-on-quarter, trading revenue decreased by 39%, with spot trading volume reduced by over 30%.
Mill City Ventures Successfully Completes $450 Million Private Placement and Launches SUI Treasury Strategy
According to BusinessWire, Mill City Ventures III, Ltd. (NASDAQ code: MCVT) announced the successful completion of a $450 million private equity financing and officially launched its pioneering Sui blockchain treasury management strategy. This financing was led by London digital asset hedge fund Karatage Opportunities, with the Sui Foundation and other institutions participating equally. Karatage co-founders Marius Barnett and Stephen Mackintosh serve as board chairman and chief investment officer, respectively. Mill City currently holds 76,271,187 SUI tokens, with an average purchase price of $3.6389 per token, becoming the only listed company SUI treasury officially supported by the Sui Foundation.
Pump.fun Recently Registers Subdomain fee.pump.fun
On August 1st, according to market information, Pump.fun recently registered the fee.pump.fun subdomain, indicating the upcoming launch of a fee dashboard or transaction volume-based incentive plan.
Contract Whale AguilaTrades' 40x BTC Long Position Liquidated Again, Total Loss Reaches $39.8 Million
On August 1st, according to Onchain lens monitoring, the contract whale AguilaTrades' BTC (40x) long position was partially liquidated again, with a loss of $2.78 million in this trade so far. AguilaTrades has an overall loss of $39.8 million. He initially deposited $40.05 million USDC into the HyperLiquid account, with only $200,000 remaining.
Strategy's Q2 Net Profit Reaches $10 Billion, Plans to Raise $4.2 Billion to Increase Bitcoin Holdings
According to Strategy's official announcement, the company achieved operating revenue of $14.03 billion and net profit of $10.02 billion in the second quarter of fiscal year 2025, with diluted earnings per share of $32.60. As of July 29th, the company's Bitcoin holdings increased to 628,791 coins, with a total cost of $46.07 billion, averaging $73,277 per Bitcoin. The company has realized a 25% Bitcoin return and $13.2 billion in Bitcoin gains in 2025 so far. Additionally, Strategy announced it will raise $4.2 billion through issuing STRC perpetual preferred shares to continue increasing Bitcoin holdings.
Securities Times: Bank of China, Standard Chartered, and Other Issuers Expected to Be First to Obtain Hong Kong Stablecoin License
According to Securities Times cited by Jin10 Data, Hong Kong's Stablecoin Regulation has officially taken effect, with the Hong Kong Monetary Authority issuing "Regulatory Guidelines for Licensed Stablecoin Issuers" that clearly define the thresholds for license applications. The Securities Times learned that Bank of China (Hong Kong), Standard Chartered Bank (Hong Kong), and other issuers are expected to be the first to apply for and obtain stablecoin issuer licenses. Additionally, Chinese banks, sandbox testing enterprises, large state-owned enterprises, and internet giants are actively preparing to apply. Initially, securities firms will mainly provide stablecoin trading, custody, and financing services. By the end of July, 44 financial institutions had upgraded their Type 1 securities trading licenses. Industry experts caution that the stablecoin business model remains unclear, and investors should be wary of concept speculation and risks.
Trump's Reciprocal Tariffs Delayed by One Week to August 7th
Late Thursday night, US President Trump signed an executive order to impose tariffs of 15% to 41% on goods exported from 67 trading partners to the United States, raising tariff levels to their highest in over a century. However, the new tariffs will not take effect until August 7th, instead of the previous August 1st, giving countries another window to try to reduce tariffs through negotiations. A senior government official said, "This is historic, this is a new trade system, this is what I call Trump round negotiations." White House officials on Thursday night stated that they hope to reach more agreements with countries before the new tariff implementation date of August 7th.
0xSun: Long on ETH and Short on a Basket of Altcoins as Hedge, Believes Institutional ETH Buying Won't Spill Over to Other Altcoins
On August 1st, Smart Money and crypto KOL 0xsun.sol (@0xSunNFT) posted on social media that the current market has severe long-short divergence, and he has opened a hedging trade (long ETH & short a basket of altcoins) with a position ratio of approximately 1:1. The logic for longing ETH is that ETH was the main driving force of the late June rally, with institutions following MicroStrategy's lead in purchasing ETH through coin-stock financing. In the stablecoin narrative, ETH is also the core infrastructure and settlement layer. Referencing MicroStrategy's previous BTC purchase and price surge, most altcoins ultimately rose far less than Bitcoin. The funds used by coin-stock and institutions to buy ETH are unlikely to spill over to other altcoins. According to CMC data, only 20 tokens in the Top 200 over the past 30 days outperformed ETH, including BONK, ZORA, CFX, and ENA, which were clearly driven by positive events. For altcoins, following the previous short-selling logic, priority is given to those with higher market caps, non-leading positions, weak trends, and low presence, with positions diversified and stop-losses set to prevent individual targets from surging. 0xsun added that if the market continues to be bullish in the second half of the year, he believes ETH will likely continue to be the driver. If the market enters a bear market, he doesn't think altcoins can remain unaffected, and ETH at least has institutional buying power as a bottom. Scenarios that would invalidate this hedging strategy would be either a true altcoin season where most altcoins consistently outperform ETH, or ETH oscillating or leading the decline while other altcoins don't drop much. Based on experience in recent months, he believes the latter possibility is small.
Bitunix Analyst: US June PCE Inflation Rebounds + Tax Risk Increases, BTC Tests Stress Triangle End, Short-Term Support Holds at 117,000
On August 1st, the US June core PCE annual rate was recorded at 2.8%, higher than expected and the revised previous value, the fastest inflation growth since February. Simultaneously, overall PCE and consumer spending rose together, highlighting the resurgence of inflation pressure, while a weak labor market and stagnant real income further strengthen the economic slowdown risk. The market expects Friday's employment report will further confirm the decline in recruitment momentum, adding uncertainty to the policy path. For BTC, the daily chart shows price gradually converging after high-level consolidation, currently testing the end of a descending trendline and horizontal support triangle, with 118,500-118,800 as short-term resistance and 116,300 as strong support. The liquidation heat map simultaneously shows a large number of liquidation buy orders gathered below 117,000, with support structure still stable, but selling pressure above 120,000 remains undiminished. Bitunix analysts suggest: June PCE rebound adds inflation uncertainty, coupled with the market waiting for Trump's new tariff policy, overall risk leans bearish. BTC is at the end of a converging triangle, potentially facing directional choice in the short term. It is recommended not to chase prices, but observe whether there is an effective breakthrough above 118,800 or a drop below 116,300 before making a layout.
Why Did Base's "Content Token Fundamentals" Trigger Such a Big Reaction from Solana?
In February 2025, Base's social ecosystem platform Zora launched the "COIN" feature, sparking a debate about the value of "content tokens". Base founder Jesse Pollak believes content tokens have fundamental value, while Solana co-founder Anatoly Yakovenko criticizes it as speculative. The core of their dispute is whether content tokens have long-term value or are merely short-term hype. Currently, although the Zora ecosystem is growing rapidly, its user scale is far from the volume needed to support "fundamentals", and most content tokens still show high volatility. This debate reflects the fundamental differences in value capture methods within the crypto industry.
The 70x Miracle Disk Collapsed, Can meme's DeFi IMF Make a Comeback?
The Ethereum MemeFi project $IMF, which surged 70 times between June and July, experienced an 85% crash due to massive selling, leading to a chain of liquidations and 1% bad debt. The IMF platform allows users to mortgage meme coins to borrow stablecoins, but opening $IMF's own token mortgage raised cash-out suspicions. Despite the official denial of protocol issues and clarification that bad debt is controllable, controversies persist. The market value rebounded 3 times from its lowest point to $21 million. The project is accused of manipulating the market with short-term buying, which the team refutes by claiming transparent listing standards.
Mento's Ambition: From Stablecoins to Global Foreign Exchange Infrastructure, a Delayed On-Chain Financial Revolution
Celo ecosystem stablecoin platform Mento is transforming to layout the trillion-dollar on-chain foreign exchange market by extending its 15 fiat stablecoins to public chains like Solana through the cross-chain protocol Wormhole, and constructing a multi-currency DEX. While its 200% over-collateralization mechanism ensures safety, it suppresses liquidity for non-mainstream currencies. Facing Asian market demands and regulatory challenges, Mento attempts to upgrade from a payment tool to global on-chain foreign exchange infrastructure, but needs to address key issues of capital efficiency and user experience.
