Compiled by: Nona
Fear and Greed Index: 62 (Greedy)
Bitcoin Price: $121,474
BTC/ETH Spot ETF Fund Flow (Last Week)
BTC Net Inflow: $246.75 M
ETH Net Inflow: $326.83 M
Regulation/Macro
The Liaoning Provincial High People's Court issued a risk warning that some illegal institutions are hyping up under the names of "financial innovation" and "digital assets", absorbing public funds by issuing so-called "virtual currencies", "virtual assets", and "digital assets", and exploiting public's insufficient understanding of stablecoins to induce trading. The court reminds the public to remain highly vigilant.
Argentine Ethereum developer Fede's Intern tweeted that he was detained in Turkey for allegedly assisting others in "misusing" Ethereum. Fede's Intern stated, "The Turkish Minister of Interior says I helped others misuse Ethereum. I am completely willing to cooperate with any authority in Turkey or any country. We have not helped anyone do anything, but we will also defend ourselves."
Project/Company Dynamics
The 13F filing submitted by Harvard Management Company (HMC) to the U.S. Securities and Exchange Commission (SEC) shows that the company holds shares of BlackRock's Bitcoin spot ETF IBIT worth approximately $117 million.
The Infini stablecoin payment platform team sent an on-chain message to the attacker again 50 minutes ago, demanding the return of approximately $49.5 million in stolen funds before August 13, 2025, at 20:00, with all profits retained as a white hat bounty. If the hacker returns the funds on time, the team will not take further legal action and will issue a written statement of leniency.
U.S. convenience store chain Sheetz announced that it will offer a 50% discount to customers who make payments using crypto during specific time periods each day.
Recently, the quantitative private equity firm DeepSeek (parent company) has been involved in a rebate case involving 118 million yuan. The case involves DeepSeek's market director Li Cheng, spanning six years. In November last year, Li Cheng was investigated for broker rebates. Recent investigations show that between 2018-2023, Li Cheng allegedly colluded with a brokerage department manager to divert DeepSeek's trading to a designated brokerage by fabricating broker identities, extracting performance bonuses under the "40% commission" system, accumulating 118 million yuan over 6 years, with over 20 million yuan flowing to Li Cheng. Several involved parties have been handed over to judicial authorities.
The Singapore Exchange president stated that the exchange might list crypto perpetual futures contracts by the end of the year. Meanwhile, crypto trading is considered unsuitable for retail investors, and related products will be primarily launched to meet institutional needs.
Ant Group stated that it has noticed online claims about "Ant Group collaborating with the People's Bank of China and China Rare Earth Group to create the world's first rare earth RMB stablecoin", attempting to guide investors' attention to related sectors. Ant Group has never had such plans with the relevant institutions and urges the public to be discerning and avoid being deceived.
The LayerZero Foundation proposed acquiring the Stargate cross-chain bridge and its STG token for $110 million. The proposal includes stopping STG token usage, allowing STG holders to exchange their tokens for LayerZero's native token ZRO at a ratio of 1 STG to 0.08634 ZRO, equivalent to $0.1675 per STG and $1.94 per ZRO. Additionally, Stargate will be incorporated into the LayerZero Foundation, and its DAO will be dissolved.
Health Check Medical (Stock Code 01931) announced that it has officially launched a "Global Enhanced Ethereum Treasury Strategy with Downside Protection Mechanism". Based on strategic layout needs, it will use Ethereum as a core reserve asset, aiming to become a leading listed company in the Hong Kong stock market and globally in terms of Ethereum reserve scale. The group will use multiple funding sources including self-owned funds, stable annual distributable profits, existing low-efficiency inventory asset replacement, and continuous ATM (At-The-Market) financing to continuously acquire Ethereum through a "regular investment" strategy.
Depth & Outlook
From a strategic perspective, Stargate's integration into LayerZero would indeed bring centralization effects in technology, users, and token value. For ZRO holders, this is almost a risk-free positive: more income, clear buyback logic, and stronger narrative cohesion.
If a country's monetary growth rate is synchronized with economic growth, it will not cause inflation, which is the well-known seigniorage. This means that economic transaction activities require monetary function lubrication. With stable monetary circulation velocity, the overall monetary value will synchronize with the economic transaction volume.
Due to the characteristics of crypto assets (especially stablecoins like USDT, USDC) being outside traditional financial regulatory systems and having global payment and low transaction fees, crypto assets have become a widely used payment and settlement tool in "black and gray" industries. We also see that a large number of crypto merchants are actively or passively serving (or even specifically serving) the black and gray industry, with a trend of downstream crimes approaching upstream crimes, creating a situation where auxiliary behaviors become "principal offenses".
How did the top 10 wealthiest people in the crypto world make their fortunes? Where did their first pot of gold come from? What are their exclusive strategies? After reading, remember to take notes carefully, as these are paths and pitfalls experienced by the masters!
