1. US Non-Farm Employment Increases by 73,000 in July, Unemployment Rate Rises to 4.2%
US non-farm employment increased by 73,000 in July, with the private sector contributing 83,000 jobs. The unemployment rate rose to 4.2% in July. However, the greater focus was on the previous value corrections: May and June's employment growth were significantly revised down to 19,000 and 14,000 respectively, totaling a downward adjustment of 258,000 jobs.
2. Hong Kong Stablecoin Regulation Takes Effect, Some OTC Stores Temporarily Close Due to Unclear Regulations
On the first day of Hong Kong's stablecoin regulation implementation, some cryptocurrency OTC offline stores, including One Satoshi, temporarily closed due to concerns about violating regulatory requirements. However, some OTC offline stores chose to continue operating. Some store operators who continued business believed that OTC activities involving overseas-issued non-Hong Kong legal tender (such as USDT) are not within the scope of the regulation. Based on Hong Kong's common law spirit, if there are no clear precedents determining stablecoin OTC activities as illegal, OTC business may still continue to operate.
3. SEC Launches "Project Crypto" to Advance Comprehensive Crypto Market Reform
SEC Chairman Paul S. Atkins announced the launch of the "Project Crypto" reform plan in Washington on July 31, 2025. The plan covers multiple directions including crypto asset classification and issuance, tokenization support, custody and trading rule revisions, securities and non-securities coexistence trading, super-app platform access, DeFi compliance pathways, and innovation exemption mechanisms, aiming to establish an institutional foundation for the US to become a global crypto capital.
4. Coinbase Releases Q2 Financial Report and Plans to Launch Tokenized Stocks and Prediction Markets
Coinbase released its second-quarter 2025 financial report on July 31 and announced plans to introduce tokenized stocks, prediction markets, derivatives, and early token offerings to US users in the coming months, creating an "all-asset exchange" that integrates multiple asset types. The company will gradually expand to international markets pending regulatory approval. This quarter, the company's revenue was $1.5 billion, lower than the expected $1.59 billion, a 26% quarter-on-quarter decline; net profit was $1.43 billion, with adjusted net profit at $33 million; trading volume was $237 billion, a 40% quarter-on-quarter decrease. Stablecoin revenue was $333 million, a 12% increase; blockchain rewards income was $145 million, a 26% decline; and custody assets reached $245.7 billion, a historical high.
5. Strategy Reports Q2 Net Profit of $10 Billion, Plans to Raise $4.2 Billion to Acquire More Bitcoin
Strategy (formerly MicroStrategy) announced its Q2 2025 financial report, achieving a net profit of $10 billion due to Bitcoin price rebound, and declared plans to raise $4.2 billion through issuing STRC perpetual preferred shares to continue acquiring Bitcoin. This quarter, its Bitcoin holdings increased by nearly 20%, from 499,000 to 597,000 coins. The company currently holds 628,800 Bitcoins, approximately 3% of the total Bitcoin supply.
