Crypto Morning Briefing: US and EU close to reaching 15% tariff agreement, Block officially added to S&P 500 index
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Crypto Morning Briefing: US and EU close to reaching 15% tariff agreement, Block officially added to S&P 500 index
2 billion PUMP tokens are suspected to have been transferred back from Binance's hot wallet to addresses linked to the project team.
Navigating Web3 tides with focused insightsAuthor: TechFlow
Yesterday's Market Dynamics
U.S. and EU nearing 15% tariff agreement
According to Jinshi Data citing the Financial Times, the U.S. and EU are close to reaching a 15% tariff agreement.
Bitcoin treasury firm Block officially added to S&P 500 Index
According to CNBC, payments giant Block Inc. will officially join the S&P 500 Index today. Block currently holds 8,584 bitcoins on its balance sheet.
BitMine launches NYSE options trading, plans to acquire 5% of ETH total supply
According to The Block, BitMine Immersion (ticker: BMNR), an Ethereum staking and cryptocurrency mining company linked to Peter Thiel, has launched options trading for its common stock on the New York Stock Exchange and disclosed plans to acquire 5% of the total ETH supply.
Aspecta unveils tokenomics: 1 billion total supply, 45% allocated to community and ecosystem development
According to an official announcement, Aspecta has unveiled its tokenomics with a total supply of 1 billion tokens, distributed as follows:
45% to community and ecosystem (7.6% airdropped to users and community supporters at TGE; 6.7% allocated to marketing and broader blockchain users; 0.7% for pre-market price discovery; 30% for community and ecosystem growth);
20% to investors;
15% to early contributors;
3% for liquidity;
17% to the foundation.
Aspecta will open airdrop checks at 15:00 Beijing time on July 24, with airdrop claims available starting at 18:00 during TGE.
Analysis: 620,000 ETH batch unstaking event may be linked to massive withdrawals from Aave platform ETH deposits causing borrowing rates to surge
According to on-chain analyst Ai Auntie (@ai_9684xtpa) citing analysis from crypto blogger darkpool, the batch unstaking of 620,000 ETH may be related to large-scale withdrawals from Aave's ETH deposits, which caused borrowing rates to spike. The sudden mass withdrawal from Aave’s ETH deposits led to soaring borrowing rates, turning profitable leveraged yield strategies into losses, forcing leveraged players to redeem stETH to deleverage, resulting in the current situation.
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Aave ETH borrowing APR briefly surged to 10%
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Lido $stETH current exit queue has now extended to 21 days (normally within one week)
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On-chain stETH to ETH exchange still trades at nearly 0.4% discount
Regarding the mechanism of recursive lending, Aave offers a 93% collateralization rate for ETH, allowing arbitrageurs to leverage up to 14x to capture yield spreads. Under normal conditions, this can generate an annualized return of ~7% on principal.
Previous report: Pending ETH unstaking volume reached 620,000 ETH, with net redemptions around 271,000 ETH.
2 billion PUMP tokens疑似transferred back from Binance hot wallet to project-affiliated address
According to on-chain analyst Ai Auntie (@ai_9684xtpa), 2 billion PUMP tokens were疑似transferred back from Binance's hot wallet to an address linked to the project team.
It is reported that this portion of tokens was deposited into Binance a week ago and moved to address 9SnqX...seSGz; half an hour ago, they were transferred back in batches from this address. The analyst noted tomorrow is the expected airdrop distribution date.
Arthur Hayes: Predicts Bitcoin to reach $250K, Ethereum $10K by year-end
According to Cointelegraph, Arthur Hayes predicts Bitcoin will reach $250,000 and Ethereum $10,000 by the end of the year. Hayes指出that wartime economic policies under the Trump administration are creating credit expansion flowing into the crypto market, and the model where stablecoin issuers purchase Treasury bills to finance government deficits will further drive market gains.
FTX: Next distribution set for end of September, disputed claims reserve reduced by $1.9B
FTX announced the next round of fund distributions will begin on September 30, 2025, with a record date of August 15. This distribution targets allowed claim customers, general unsecured claim holders, and convenience claim holders who did not receive prior distributions.
Meanwhile, the bankruptcy court has approved FTX reducing its disputed claims reserve from $6.5 billion to $4.3 billion, releasing approximately $1.9 billion in funds for this distribution round.
Distributions will be processed through three service providers: BitGo, Kraken, and Payoneer. FTX提醒users to complete KYC verification and submit tax forms, and to beware of potential phishing scams.
Crypto miner MARA to issue $850M convertible notes to buy more Bitcoin
According to an official announcement, Bitcoin mining firm MARA Holdings announced the issuance of $850 million in 0% convertible notes to purchase additional Bitcoin (as well as repay $50 million in existing notes and for general corporate purposes).
MEI Pharma completes $100M private placement, adds Litecoin to treasury reserves
According to BusinessWire, MEI Pharma (Nasdaq: MEIP) announced completion of a $100 million private placement, planning to use the funds to purchase Litecoin (LTC) as treasury reserve assets. The move reportedly makes MEI the first company listed on a national exchange to hold Litecoin. Litecoin founder Charlie Lee has joined MEI's board, and digital asset firm GSR has been appointed financial management advisor. The financing involved issuing approximately 29.24 million shares at $3.42 per share, with participants including the Litecoin Foundation and multiple investment institutions.
Market Movements
Recommended Reading
This article discusses the GENIUS Act, the first federal law in the U.S. concerning the crypto industry, designed to establish clear rules for the market, promote growth and competition, and protect consumers. The bill, supported through bipartisan cooperation, has profound implications for cryptocurrencies, stablecoins, and the global financial system, while reinforcing the dollar's role in the global economy.
Ethereum's $1.9 Billion Unstaking Wave: Profit-Taking or a New Beginning for the Ecosystem?
This article describes how Ethereum validators are undergoing an unstaking wave worth approximately $1.9 billion, sparking market concerns over ETH prices. Despite the large unstaking volume, it does not necessarily mean immediate selling pressure. Institutional behavior and on-chain arbitrage opportunities have mitigated potential risks, and the unstaking appears more like internal ecosystem rebalancing rather than a sell-off signal. Additionally, growing ETH holdings by institutions like BlackRock are advancing its financialization.
Arthur Hayes' Latest Prediction: Bitcoin $250K, Ethereum $10K by Year-End
This article explores how the Trump administration's fascist economic policies are driving growth in the cryptocurrency market to support U.S. economic and defense needs. It analyzes the impact of expanded credit supply on Bitcoin and the broader crypto market and forecasts potential future price movements. Additionally, the author elaborates on the role of cryptocurrencies and stablecoins in financing U.S. budget deficits and provides strategic investment recommendations.
Bullish, emerging from EOS, officially preparing for NYSE listing
This article details the development journey, operational model, and complex relationship between cryptocurrency exchange Bullish and EOS. It also discusses Block.one's use of funds and Bullish's challenges and efforts regarding compliance and public listing. Furthermore, it examines Bullish's technological positioning, market strategy, and collaboration with the stablecoin USDC.
IOSG: Crypto vs Stocks – Are SBET and BTCM innovation or bubble?
This article explores the trend of corporate crypto treasury adoption, focusing on innovative strategies involving Bitcoin and Ethereum reserves, including financing structures, tax optimization, staking yields, and integration with DeFi ecosystems, while revealing the market performance and challenges faced by these companies.
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