Crypto Morning News: Musk Announces Launch of "American Party," UAE Denies Offering Visas to TON Stakers
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Crypto Morning News: Musk Announces Launch of "American Party," UAE Denies Offering Visas to TON Stakers
This week, tokens including CHEEL, APT, and IMX will see large-scale token unlocks, with a total value exceeding $200 million.
Navigating Web3 tides with focused insightsAuthor: TechFlow
Yesterday's Market Developments
Trump Signs "Big and Beautiful" Tax and Spending Bill
According to Jinshi Data, U.S. President Donald Trump signed the "Big and Beautiful" tax and spending bill into law on July 4 local time. The U.S. House of Representatives passed the bill promoted by President Trump on the afternoon of July 3 with 218 votes in favor and 214 opposed. The legislation has been controversial due to federal aid cuts, increased long-term debt, and tax reductions for the wealthy and large corporations. Two Republican representatives voted against it during the session. The bill had previously been approved by the Senate on July 1.
U.S. Treasury Secretary Bessent: Tariffs Will Revert to April Levels If No Deal Is Reached by August 1
According to Jinshi News, U.S. Treasury Secretary Bessent stated that tariffs will revert to April levels if no agreement is reached by August 1.
Musk Announces Formation of the "America Party"
According to conservative news and commentary website Townhall columnist Grage Dustin, Elon Musk has submitted a statement of organization for the "America Party" to the U.S. Federal Election Commission (FEC).
Sonic Labs to Randomly Open Phase One Claiming for S Token Airdrop Between July 15–22
According to an official announcement from Sonic Labs, “Phase one (S1) claiming for the S token airdrop will randomly open between July 15 and July 22—please be prepared.”
Ethereum Community Foundation: To Launch Series of Initiatives in Coming Weeks Aimed at Pushing ETH Price to $10,000
The Ethereum Community Foundation announced on social media that it will roll out a series of initiatives in the coming weeks, including full grant details, initial initiatives, core team and contributor information, and guidelines for how to apply, contribute, or launch new projects.
The Ethereum Community Foundation stated this marks the "dawn of a new era" for Ethereum. Since its launch, the foundation has received significant positive feedback from developers and researchers. It emphasized that it is not a think tank but a "war chest," with the mission of driving the ETH price to $10,000.
UAE: Claims About Issuing Golden Visas to Crypto Investors Are False
According to UAE state news agency WAM, the UAE Federal Authority for Identity, Citizenship, Customs & Port Security (ICP), Securities and Commodities Authority (SCA), and Virtual Assets Regulatory Authority (VARA) jointly issued a statement denying rumors circulating online about the UAE issuing golden visas to cryptocurrency investors. VARA clarified that TON Company is neither licensed nor regulated by VARA.
ICP explained that the issuance of golden visas follows clear official frameworks and standards, which do not include cryptocurrency investors. Eligible categories include real estate investors, entrepreneurs, outstanding talents, scientists and experts, top students and graduates, humanitarian pioneers, and frontline workers.
The three agencies jointly urged the public to obtain accurate information through official channels and warned against believing unverified advertisements or offers online.
Prior report: Ton announced a collaboration with the UAE to offer 10-year golden visas to TON stakers.
On-Chain Analyst: WLFI Testing Liquidity Addition Is Fake—Beware of Scams
On-chain analyst AI Auntie (@ai_9684xtpa) posted on X stating that claims about WLFI testing liquidity additions are false. Screenshots circulating in communities and on Twitter showing 150 million $WLFI being added as liquidity actually reveal, upon checking block explorer details, that the address added “150 million fake WLFI tokens and 0 real WLFI tokens,” yet the transaction still appears under the LP section.
The contract address (CA) for genuine WLFI is 0xdA5e1988097297dCdc1f90D4dFE7909e847CBeF6. The token remains non-transferable, and the proposal to enable transfers is still under vote—exercise caution against scams.
JD.com and Ant Group Propose RMB Stablecoin Issuance Under Central Bank Authorization
According to China Business News citing Reuters, JD.com and Ant Group, Alibaba’s financial affiliate, are lobbying China’s central bank to authorize the issuance of renminbi (RMB) stablecoins to counter the growing influence of dollar-denominated stablecoins. The two companies propose launching stablecoins pegged to offshore RMB in Hong Kong, aiming to promote global use of the RMB and reduce the dominance of the U.S. dollar in digital finance. Additionally, JD.com and Ant Group plan to issue stablecoins pegged to the Hong Kong dollar after new legislation takes effect on August 1. During discussions with the People’s Bank of China, JD.com stressed the urgency of issuing offshore RMB stablecoins to advance RMB internationalization.
ZhongAn Online Completes HK$3.9 Billion Share Placement
According to Caixin, ZhongAn Online has completed the placement of 215 million new H-shares, raising a total of HK$3.924 billion. The placement price was HK$18.25 per share, representing 13.15% of the enlarged issued H-shares and 12.76% of the total issued share capital.
Earlier, following the passage of Hong Kong’s Stablecoin Bill, ZhongAn Bank announced it would become the first digital bank in Hong Kong to offer dedicated reserve banking services for stablecoin issuers, partnering with Ony币, one of the HKMA’s首批 sandbox participants.
Michael Saylor Reshared Bitcoin Tracker Info, Likely to Accumulate BTC Next Week
Strategy’s Executive Chairman Michael Saylor reposted Bitcoin Tracker information on X, writing: “Sometimes you just need to HODL.”
Based on past patterns, Strategy typically discloses Bitcoin accumulation the day after such posts appear.
This Week CHEEL, APT, IMX and Other Tokens Face Large Unlock Events, Totaling Over $200 Million
Data from Token Unlocks shows that CHEEL, APT, IMX, and other tokens will undergo major unlock events this week, totaling over $200 million. The list of tokens unlocking more than $1 million in value includes:
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CHEEL unlocks 20.81 million tokens on July 13, worth approximately $109.48 million;
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APT unlocks 11.31 million tokens on July 12, worth approximately $50.78 million, accounting for 1.75% of circulating supply;
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IMX unlocks 24.52 million tokens on July 11, worth approximately $10.41 million, or 1.31% of circulating supply;
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IO unlocks 13.29 million tokens on July 11, worth approximately $9.2 million, or 7.87% of circulating supply;
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MOVE unlocks 50 million tokens on July 9, worth approximately $7.81 million, or 1.92% of circulating supply;
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AGI unlocks 106.53 million tokens on July 11, worth approximately $5.39 million, or 5.97% of circulating supply;
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PEAQ unlocks 61.51 million tokens on July 12, worth approximately $4.75 million, or 6.21% of circulating supply;
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BB unlocks 42.89 million tokens on July 12, worth approximately $3.43 million, or 10.47% of circulating supply;
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OP unlocks 4.47 million tokens on July 11, worth approximately $2.42 million, or 0.26% of circulating supply;
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IOTA unlocks 15.16 million tokens on July 9, worth approximately $2.41 million, or 0.39% of circulating supply;
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SXT unlocks 24.64 million tokens on July 8, worth approximately $1.71 million;
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RENDER unlocks 492,130 tokens on July 11, worth approximately $1.59 million, or 0.09% of circulating supply;
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EIGEN unlocks 1.29 million tokens on July 8, worth approximately $1.48 million, or 0.41% of circulating supply;
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AXS unlocks 652,500 tokens on July 11, worth approximately $1.42 million, or 0.39% of circulating supply;
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RESOLV unlocks 7.6 million tokens on July 10, worth approximately $1.09 million, or 3.11% of circulating supply.
Market Update
Suggested Reading
This article explores how Ant International is transforming global treasury management through blockchain and artificial intelligence, advancing cross-border payments and corporate treasury technology. These innovations have not only reduced the cost of cross-border transactions but also improved capital efficiency, marking a significant breakthrough in fintech.
Ethereum Takes Center Stage: Virtuals’ ACP Opens the Door to the Trillion-Dollar AI Economy
This article focuses on the collaboration between Ethereum and Virtuals, opening the trillion-dollar AI economy via the Agent Commerce Protocol (ACP). As a protocol enabling interoperability among AI agents across different chains and frameworks, ACP presents new growth opportunities for the Ethereum ecosystem. The Virtuals ecosystem is rapidly expanding and may evolve into a new Layer 1, fueling the rise of Web3 AI.
The Payment Party: Will Visa and Mastercard Be Left Out?
This article examines the evolution of the payments industry, particularly how Visa and Mastercard are responding to challenges posed by blockchain technology and stablecoins. It reviews the history of traditional payment systems and analyzes the potential impact of Web3 wallets and on-chain payments on existing payment giants. Both Visa and Mastercard are adapting by collaborating with blockchain platforms and stablecoin initiatives.
a16z: Three Challenges for Stablecoins to Become Real Money—Liquidity, Sovereignty, and Trust
This article delves into the three key challenges—liquidity, sovereignty, and trust—that stablecoins must overcome to function as true money. It discusses issues such as monetary unity, the role of dollar-based stablecoins in global demand, and the implications of using government bonds as collateral. The article also explores how stablecoins could reshape global financial infrastructure, noting their innovative designs could bring profound changes to economic and financial systems.
Explained: Backed xStocks—On-Chain Experimentation and Pathways to Breakthroughs in Tokenized Stocks
This article discusses on-chain experimentation and pathways for breakthroughs in tokenized stocks. xStocks is a tokenized securities service backed 1:1 by real equities, supporting instant settlement on-chain, primarily targeting non-U.S. users. Despite compliance advantages and innovation, limited spot market liquidity remains a key challenge. Future development may focus on derivatives and tokenization of pre-IPO equity.
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