Bitcoin Hits ₩160 Million on Upbit for the First Time in 5 Months
July 11Breaking
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Chinese authorities begin discussions on stablecoin response..."Research must be strengthened"
Chinese authorities have begun discussing strategic response measures for stablecoins and digital currencies. According to Reuters on the 10th (local time), the Shanghai State-owned Assets Supervision and Administration Commission (Shanghai SASAC) held a meeting on digital currency response strategies with more than 60 local government officials. At the meeting, Chairman He Qing stated, "We need to increase sensitivity to new technologies and strengthen research on digital currency." This meeting was held at a time when major private companies and experts in China have been emphasizing the need for yuan-based stablecoins. The fact that an official body held a public meeting on stablecoins, despite the prohibition of virtual asset (cryptocurrency) trading in China, is seen as a signal of a possible regulatory shift. Chinese companies such as JD.com and Ant Group are reportedly preparing to obtain licenses to issue yuan-pegged stablecoins in Hong Kong. Hong Kong is set to implement laws related to stablecoins in earnest from August 1. However, regulatory easing on the mainland is expected to take more time. Pan Gongsheng, Governor of the People’s Bank of China (PBOC), maintained a cautious stance last month, saying, "The proliferation of digital assets, including stablecoins, poses a major challenge to financial regulation." In 2021, the government of China completely banned virtual asset trading and mining, citing financial market stability issues.
July 11GeneralUnstoppable Bitcoin breaks past $117,000
Bitcoin (BTC)'s upward momentum shows no signs of slowing down. It has once again set a new all-time high in just a single day. On the 10th (local time), Bitcoin surged about 6% from the previous day to surpass the $117,000 mark on the Binance Tether (USDT) market, a global virtual asset (cryptocurrency) exchange. The all-time high reached that day ($116,868) was surpassed again in less than a day. Industry experts analyzed that expectations of interest rate cuts and the inflow of institutional funds are driving this uptrend. Min-Kyo Jung, an analyst at Presto Research, commented, "The current bullish momentum of Bitcoin can be interpreted as a response from liquidity-sensitive assets, with renewed expectations for a US interest rate cut coming to the fore." He added, "In addition, following the approval of the ETF, institutional accessibility has increased, and as some major companies change their asset allocation strategies, the demand base has diversified." Su-Bin Ahn, a data analyst at Hashed, noted, "Recently, the overall macro environment has improved, including the stock market such as Nasdaq, and concerns over Trump's tariff policies are fading in the market." He continued, "The accumulation of ETF demand and institutional buying momentum has likely created synergy for the ongoing uptrend."
July 11PiCKU.S. Ethereum Spot ETF Records $383.1 Million Net Inflow… Second Largest in History
A record-breaking inflow, the second largest ever, has entered the U.S. Ethereum (ETH) spot exchange-traded fund (ETF) market. According to Sosho Value’s data on the 10th (local time), Ethereum spot ETFs traded in the U.S. recorded a net inflow of $383.1 million on this day. The product with the largest inflow was BlackRock’s 'ETHA', which saw $309.3 million in net inflows in a single day. Fidelity’s 'FETH' also attracted $37.28 million, while Grayscale’s 'ETH' and 'ETHE' each recorded inflows of $20.7 million and $18.89 million, respectively. In addition, Bitwise’s 'ETHW' ($3.23 million), VanEck’s 'ETHV' ($2.06 million), and 21Shares’ 'CETH' ($1.98 million) each recorded net inflows.
July 11PiCKRobinhood Warns of Legal Risks for 'Tokenized Shares'... "Investor Protection Difficult in Case of Bankruptcy"
Concerns are growing among industry insiders and regulatory authorities over Robinhood's tokenized startup equity products launched in Europe. While the initiative purports to offer investment opportunities in the equity of well-known unlisted companies like OpenAI, questions arise as the structure is an indirect investment through a Special Purpose Vehicle (SPV) without actual ownership of the equity—raising both legal violation possibilities and bankruptcy risks. Robinhood recently released a token product in Europe allowing investment in OpenAI. This token uses an indirect investment method via an SPV and does not represent actual stock ownership. Robinhood argued that this provided retail investors with access to previously exclusive unlisted equity opportunities, but OpenAI responded that it was "clearly unauthorized and legally problematic." On the 10th (local time), John Montague, a lawyer specializing in virtual assets (cryptocurrency), stated in an interview with CoinDesk, "This structure could directly violate corporate articles, shareholder agreements, and investor rights agreements," and added, "Resale or circumvention through an SPV could constitute a clear contractual breach, and issuers may request injunctions from courts." U.S. regulators are also closely monitoring this situation. Hester Peirce, Commissioner of the U.S. Securities and Exchange Commission (SEC), recently stated, "Tokenized equity constitutes securities under federal law, and therefore must comply with disclosure obligations under federal securities laws." However, she did not mention Robinhood directly in her statement. There are also concerns about bankruptcy risks. The platform 'Linqto', which offered similar services, recently filed for bankruptcy. It remains uncertain what legal protections token holders of that platform can actually receive. Attorney Montague pointed out, "If Robinhood were to go bankrupt, the stocks in the SPV would not be attributed to investors," and warned that "this could eventually inflict significant damage on investors." He further commented, "Such tokens are issued without voting rights or board access, so they run the risk of devolving into speculative assets," but added, "Nevertheless, Robinhood’s challenge could have a positive impact on the industry overall by providing market liquidity and driving regulatory clarity."
July 11GeneralU.S. Bitcoin Spot ETF Records $1.1726 Billion Net Inflow in a Day…Largest in 8 Months
The U.S. Bitcoin spot ETF recorded the largest daily inflow since November 7 of last year. A massive influx of funds was concentrated around major asset management firms such as BlackRock and Fidelity. According to TraderT data on the 10th (local time), U.S.-traded Bitcoin spot ETFs saw a net inflow of $1,172,600,000 on this day. The ETF that attracted the most funds was BlackRock (IBIT), with a net inflow of $445,470,000. Fidelity (FBTC) received $324,340,000, while ARK Invest (ARKB) saw an inflow of $268,700,000. Bitwise (BITB) also attracted $77,150,000. On the other hand, Grayscale (GBTC) recorded a net outflow of $40,170,000. VanEck (HODL) saw a slight increase with a $15,240,000 inflow, while some ETFs such as Invesco (BTCO), Franklin Templeton (EZBC), Valkyrie (BRRR), and WisdomTree (BTCW) showed no net inflow or outflow.
July 10PiCKARK: "Bitcoin could reach up to $1.5 million by 2030"
U.S. asset management firm ARK Invest has projected that the price of Bitcoin (BTC) could reach up to $1,500,000 by 2030. ARK Invest presented this outlook through its annual report, 'Big Ideas 2025.' The report identified Bitcoin's role as 'digital gold' as a major driver of the projected growth. They analyzed that if Bitcoin were to replace 20~60% of the gold market share, its price contribution could reach up to 57.8%. Additionally, institutional entry into the investment market and rising demand for safe assets in emerging economies were cited as long-term bullish factors. ARK Invest stated, "If around 6.5% of institutional portfolios include Bitcoin, it could drive approximately 43% in price increases," and added, "Increasing demand from investors in emerging markets seeking inflation hedges could also contribute up to 13.5% of the price." Furthermore, "About 40% of Bitcoin in circulation is either being held long-term or has been permanently lost," they explained, noting, "Based on the effective circulating supply, prices could be more than 40% higher than current models suggest."
July 10GeneralTrump: "35% Tariff on Canada... Additional Increase If Retaliated"
U.S. President Donald Trump officially notified Canadian Prime Minister Mark Carney in a letter that a 35% high tariff would be imposed on Canadian products starting next month. This is due to the allegation that Canada has failed to block the influx of fentanyl into the United States through its territory. On the 10th (local time), President Trump stated in the letter to Prime Minister Mark Carney that, "The United States, despite Canada’s retaliatory financial measures, has decided to respect the trade relationship and continue cooperation," but also criticized that, "Instead of cooperating with the U.S., Canada imposed retaliatory tariffs on U.S. products." He said, "Therefore, starting August 1, independent of existing sectoral tariffs, a 35% high independent tariff will be imposed on Canadian products," and emphasized, "Any attempts to circumvent the tariffs will be subjected to the same level of high tariffs." He further warned, "If Canada raises its own tariffs in response, the increase will be added on top of the 35% we impose." President Trump also raised the issue of Canada’s protectionist measures in addition to the fentanyl problem. He pointed out, "Canada imposes tariffs of up to 400% on U.S. dairy products, making market access virtually impossible,” and added that “Tariff and non-tariff barriers are causing the U.S.'s unsustainable trade deficit." He stressed, "The trade deficit poses a serious threat not only to the U.S. economy but also to national security," and stated, "If Canada cooperates in addressing the fentanyl issue, this tariff measure may be adjusted." He added, "This tariff could be raised or lowered in the future, depending on the level of cooperation between the two countries."
July 10GeneralTrump: "Imposing 15~20% Tariffs on All Remaining Countries"
Donald Trump, President of the United States, announced a plan to impose a uniform tariff of 15~20% on most trading partners. Regarding concerns about inflation and potential shocks to the stock market, he said, "Tariffs have been received positively by the market." In a phone interview with NBC on the 10th (local time), President Trump stated, "I will impose tariffs of 15% or 20% on all the remaining countries," adding, "The specific rate will be coordinated going forward." Currently, the United States operates a uniform tariff rate at around 10%. President Trump emphasized, "The tariff policy has been very positively received," and "today, the stock market hit an all-time high." In fact, on this day, the S&P 500 index closed at a record intraday high. However, recent stock market trends have been unstable. According to Forbes, after President Trump announced the first global tariff measures on April 2, the S&P 500 plunged more than 20% within just a few days, marking a historic drop. Some in the market are raising concerns that additional tariffs may strain supply chains and have a negative impact on prices and the real economy overall.
July 10PiCKForbes: "Bitcoin Hits All-Time High Amid Anticipation for US 'Crypto Week'"
Bitcoin (BTC) has once again reached an all-time high. Analysts attribute the rally to growing anticipation for 'Crypto Week,' which will focus on cryptocurrency-friendly legislation, as well as increased Bitcoin purchases by major institutions such as GameStop and Trump Media. On the 10th (local time), Forbes reported, "Bitcoin surged to an intraday record of $116,868, hitting an all-time high. Currently, it is trading at around $115,900, up 4.2% from the previous day." One of the main drivers behind Bitcoin's strength is the expectation for pro-crypto policy legislation within US politics. The House Financial Services Committee has designated the week starting the 14th as 'Crypto Week' and plans to discuss bills such as the Genius Act, which aim to integrate the cryptocurrency industry into the formal regulatory framework. Institutional Bitcoin buying has also been a factor. Forbes noted, "GameStop purchased about $513 million worth of Bitcoin in May," and "Trump Media & Technology Group is planning to set up a $2.5 billion Bitcoin reserve."
July 10PiCKFlorida launches investigation into Robinhood Crypto..."Consumer deception"
The state of Florida in the United States has officially launched an investigation into the virtual asset (cryptocurrency) trading service 'Robinhood Crypto' operated by the financial services platform Robinhood. The probe stems from the determination that Robinhood's claim to be the 'lowest cost' trading platform may have misled consumers. According to Reuters on the 10th (local time), James Uthmeier, the Florida Attorney General, announced that an investigation is underway to determine whether Robinhood Markets’ virtual asset division violated the state’s consumer protection law, known as the 'Deceptive and Unfair Trade Practices Act.' The prosecutor's office has issued a subpoena requesting internal documents from Robinhood, with a deadline set for the 31st of this month. In a statement, Attorney General Uthmeier said, "Consumers should be guaranteed transparent information when trading virtual assets," adding, "Robinhood has long claimed to be the lowest cost trading platform, but we determined that this assertion could be deceptive." Robinhood does not charge direct commissions for stock or virtual asset trades. Instead, it generates income through a 'PFOF (Payment for Order Flow)' approach, by passing customer orders to third-party market makers and receiving compensation in the process. Regarding this, Lucas Moskowitz, Chief Legal Officer at Robinhood, explained, "We provide customers with clear disclosures on price information, fees, and spreads throughout the transaction process," and emphasized, "Robinhood is proud to offer a platform that allows trading of virtual assets at the lowest average costs." Robinhood Crypto must submit documentation related to the subpoena to the Florida Attorney General's Office by July 31.
July 10GeneralBithumb introduces 'Automatic Split Order' feature… Register up to 10 price quotes
Bithumb, a domestic virtual asset (cryptocurrency) exchange, announced on the 11th that it will support an automatic split order service for virtual assets. This applies a method used in the stock market to cryptocurrency trading, and Bithumb is the first among domestic exchanges to implement it. This feature allows users to split orders for a specific virtual asset across multiple price ranges (quotes) at once. When buying, split orders are registered at lower prices, and when selling, at higher prices, respectively. When the market price reaches the designated range, the corresponding orders are executed sequentially, and any unexecuted orders remain or can be cancelled individually. Orders can range from a minimum of 2 to a maximum of 10. The usage method is simple. On the Bithumb app or mobile web, select the virtual asset you want to buy or sell, then tap the 'Split' function in the quote order tab and enter the △starting price △order amount △number of orders △order interval. Each order is automatically registered individually at the specified price quote interval, and it is also possible to cancel only specific quotes. A Bithumb official said, "Automatic split order is a function designed so that anyone can trade easily and precisely during periods of high price volatility," adding, "It will contribute to increasing order book liquidity and creating a safer environment that can respond more flexibly to market volatility."
July 10GeneralSharpLink set to surpass Ethereum Foundation with $612 million in Ethereum holdings
U.S. sports betting platform SharpLink Gaming is making large-scale purchases of Ethereum (ETH) and is expected to soon become the company holding the largest amount of Ethereum. Joseph Lubin, chairman of the board at SharpLink Gaming and co-founder of Ethereum, said in an interview with CNBC on the 8th (local time), "We are steadily acquiring tens of millions of dollars worth of Ethereum each day" and added, "We will soon surpass the Ethereum Foundation's Ethereum holdings." Currently, the Ethereum Foundation’s holdings are estimated to be about $725 million, while SharpLink held approximately $612 million worth of Ethereum as of last week. Meanwhile, Ethereum hit $3,000 during intraday trading in the Binance Tether (USDT) market on this day. This is the first time in about five months since last February. Ethereum is currently trading in the $2,970 range.
July 10GeneralEven with Bitcoin's surge, investors are holding... Exchange reserves drop 21% in 4 months
While Bitcoin continues its upward trend, hitting new all-time highs, the amount of Bitcoin held on exchanges has been steadily decreasing. On the 10th (local time), Bitcoin surpassed the $116,000 mark, setting consecutive record highs. Notably, despite this rapid surge, there is no significant sign of investors moving their Bitcoin to exchanges to sell. Instead, there is a clear trend among long-term holders moving assets to personal wallets. On this day, the cryptocurrency analytics platform Santiment reported, "In the past four months, Bitcoin exchange reserves have decreased by about 315,830 coins (21%)." The platform added, "This is a sign that selling pressure from long-term holders is not significant." Over the past five years, a total of 1.88 million Bitcoin have exited exchanges, which is equivalent to 61% of current exchange reserves. Santiment stated, "The trend of storing Bitcoin in personal wallets rather than exchanges suggests strong long-term holder sentiment," adding, "This can also act as a factor that helps suppress the possibility of a sharp market decline."
July 10General[Market Update] Cryptocurrency Market Surges… Bitcoin Hits All-Time High, Altcoins Rally Together
The virtual asset (cryptocurrency) market is showing an overall upward trend. Bitcoin (BTC) has risen by more than 5% compared to the previous day and is trading in the $116,000 range. Major altcoins such as Ethereum (ETH), Cardano (ADA), and Sui (SUI) are also showing strong performances. As of 7 a.m. (KST) on the 11th, according to the global cryptocurrency exchange Binance, Bitcoin is trading at $116,686.14, up 5.17%. Ethereum, the leading altcoin, has soared 8.82% to trade around $2,995, and during the day, it briefly touched the $3,000 mark for the first time in about five months. Sui (SUI) showed the highest rate of increase among the major altcoins. On this day, Sui surged about 14% from the previous day, reaching $3.48. Cardano (ADA) also jumped 8.19% from yesterday, recording about $0.67. Dogecoin (DOGE) increased by 6.33% to $0.19, Ripple (XRP) is trading at $2.5525, up 5.82%. Stellar Lumens (XLM) climbed 5.94% to $0.305. Solana (SOL) rose 4.66% to $164, Binance Coin (BNB) gained 2.69% to $685.55. Tron (TRX) showed a comparatively smaller rise of 1.03%, trading at $0.293.
July 10GeneralEthereum (ETH) Touches $3,000 for the First Time in 5 Months
July 10BreakingBitcoin Continues to Hit All-Time Highs... Surpasses $116,000
Bitcoin continues its unstoppable upward trend, setting new all-time highs day after day. Ethereum (ETH) also joined the bullish movement, recovering the $2,900 level for the first time in 5 months. According to the cryptocurrency exchange Binance on the 10th (local time), Bitcoin surged by about 5% compared to the previous day, reaching $116,868 against the Tether (USDT) market. After surpassing $112,000 last night—marking a new high for the first time in about a month and a half—Bitcoin broke another record within a single day. Thanks to Bitcoin's rapid rise, Ethereum, the leading altcoin, is also accelerating its rebound. On this day, Ethereum surpassed the $2,900 mark for the first time in 5 months, and its cumulative increase over the last three days reached about 14%. This sharp rally led to the liquidation of short positions totaling $700 million in the futures market. In particular, the HTX cryptocurrency exchange saw a single liquidation of approximately $88.55 million in short positions—the largest on that platform. Ryan Yoon, co-lead at Tiger Research, analyzed, "Since July 1, there has been a steady net inflow into spot Bitcoin ETFs. Additionally, President Donald Trump's repeated calls for interest rate cuts have enhanced expectations for improvements in the macro environment." He added, "On-chain indicators showed sufficient potential for an uptrend, and after the surge, a 'short squeeze' from liquidated short positions added fuel to Bitcoin's further rise."
July 10PiCK'SpaceX Token' Turns Out to Be Fake? Robinhood Faces Rug Pull Controversy
All SpaceX tokens burned after being cashed out Investors protest, asking, "Isn't this a rug pull scam?" The U.S. investment platform Robinhood has launched new tokenized stock products in the market and is now embroiled in a 'rug pull' controversy—a term referring to an act in which the perpetrators abscond with investor funds, resulting in damages. On the 30th of last month (local time), Robinhood announced in Europe the distribution of tokenized stocks for 'SpaceX' and 'OpenAI', saying it aimed to increase investment accessibility to unlisted companies. These tokenized stocks are created through a Special Purpose Acquisition Company (SPAC) owned by Robinhood, allowing investors to indirectly invest in unlisted stocks through the tokens. Investors misunderstood the 'SpaceX' token as a product that tokenized actual SpaceX shares and began purchasing. Previously, regarding the 'OpenAI' token, Robinhood CEO Vlad Tenev had stated, "It is a tokenization of OpenAI shares," and shared related transactions, leading investors to believe the 'SpaceX' token was likewise backed by actual SpaceX shares. However, on the 7th, Robinhood cashed out about half of the 'SpaceX' tokens sold, then burned the remaining supply and changed the token name to 'Demo 1'. This led investors to strongly protest, stating, "Isn't selling tokens that people purchased and even changing the name basically a scam?" As of now, neither the Robinhood CEO nor SpaceX has released any particular statement on the incident. Jang Hyuk-soo, infrastructure team lead at A41, remarked, "Since the Robinhood CEO himself disclosed the issuance of 'OpenAI' tokens and the related transactions, it was inevitable that the 'SpaceX' token, issued from the same address, would be recognized as an official SpaceX token," and criticized, "Robinhood deceived investors in a way that is even more deceptive than a typical crypto rug pull." In addition, the 'OpenAI' token also faced controversy over its legitimacy. Last week, OpenAI made an official statement, declaring, "The 'OpenAI' token is unrelated to our company and does not represent actual equity," further emphasizing, "We have never approved any equity transfer." The Bank of Lithuania also stated, "We have requested an explanation regarding the structure of the 'OpenAI' token from Robinhood," and that it would determine the regulatory compliance status of the token. As the controversy around the 'OpenAI' token grew, the Robinhood CEO said in an interview with CNBC on the 8th, "Technically, the token is not a stock, but is issued through a Special Purpose Vehicle (SPV) managed by Robinhood," and explained, "It is a product designed to allow European users access to unlisted stocks." Jin Hyun-soo, chief attorney at Decent, explained, "It appears to be an unregistered securities issuance, and the token name change could also be problematic," adding, "If regulatory issues arise, even though Robinhood claims it is a 'tokenization of stocks', selling such tokens becomes a clear act of fraud."
July 10PiCKEthereum, heading to $10,000?… Rebound driven by stablecoin and RWA momentum
Ethereum jumps 26% in just two weeks Expectations rise for stablecoin and RWA Corporate adoption on the rise, including Robinhood "$10,000 Target"… Price outlook remains mixed Ethereum (ETH) has recently shown a sharp upward trend, drawing market attention. On February 22 (local time), Ethereum on the Binance Tether (USDT) market dropped to $2,111, but in just two weeks surged about 26%, breaking through the $2,600 mark within 20 days. As of the 8th, Ethereum is trading around $2,570. Anticipation is growing for Ethereum to become a key asset in the stablecoin and Real World Asset (RWA, tokenized assets) markets. According to on-chain analytics platform DeFiLlama, as of the 7th, 49% of the total stablecoin issuance (about $255 billion) is operated on the Ethereum network. In the $24.8 billion RWA market, Ethereum holds a 58% share. Tom Lee, co-founder of Fundstrat and newly appointed chairman of Bitmain’s board, emphasized, “Stablecoins are like the ChatGPT of the crypto market,” adding, “Ethereum is the core infrastructure supporting this.” He continued, “To utilize Ethereum as a core asset at Bitmain, we have signed a $250 million private funding agreement.” He also projected that the growth of the RWA market could fuel Ethereum's price. Tom Lee said, “RWAs are giving new momentum to Ethereum,” and added, “If the world begins to embrace the potential of RWAs, Ethereum could reach $10,000.” U.S. investment platform Robinhood recently unveiled the Ethereum-based Layer 2 ‘Robinhood Chain,’ entering the RWA market in earnest. Vlad Tenev, CEO of Robinhood, explained, “Robinhood Chain allows tokenized stock derivatives to trade directly on blockchain,” and said, “Initially, we will support service 24 hours a day, five days a week, expanding to seven days a week in the future.” U.S. sports betting platform SharpLink Gaming also became the first Nasdaq-listed company to adopt Ethereum as a primary reserve asset and is now holding it long term. The company currently owns approximately 188,478 ETH, becoming the top Ethereum holder among listed companies on Nasdaq. The Ethereum community is also taking steps for a fresh start. The recently launched ‘Ethereum Community Foundation’ declared their goal as “breaking through $10,000 for ETH,” and announced plans for ▲grant programs ▲core team disclosures ▲upgrading support procedures, to further public infrastructure and decentralized technology investments. "Now is a time to accumulate" vs "Price reflection uncertain" Renowned futures trader Eugene commented, “Ethereum is currently one of the most undervalued basic assets,” noting, “If Bitcoin surpasses $110,000, there’s a high likelihood that Ethereum will rebound in tandem.” He added, “Ethereum accommodates over 90% of all stablecoins and will become core infrastructure for mainstream institutions and the financial sector.” Jinsol Bok, a researcher at Populus, said, “Currently, whenever banks, institutions, or companies pursue blockchain projects, the first network they consider is Ethereum,” adding, “In addition to on-chain qualities like technical stability, decentralization, and liquidity, various tokenization businesses operate with Ethereum at the center.” He continued, “If the traditional financial market transitions to a blockchain-based system, Ethereum’s ecosystem will most likely be at the center,” and predicted, “Currently, about $540 billion in assets are on Ethereum, and the economic scale will grow even faster going forward.” However, he cautioned, “Such growth momentum doesn’t directly translate to token prices,” and added, “Even though foundations and institutions are strengthening the Ethereum narrative, it remains to be seen whether this will reflect in price.” Ryan Yoon, co-lead of Tiger Research, warned against excessive Ethereum optimism. Yoon commented, “There are actually not a few traders who no longer regard Ethereum as a core asset,” pointing out, “Although the foundation began rebuilding around ETHCC, it’s unclear whether this will lead to substantial contributions.” He added, “Currently, Ethereum’s issuance exceeds its burn, so it is in an inflationary state. Addressing this will require expansion of stablecoins,” and further noted, “It may serve as a security layer, but whether this directly results in price growth is a separate issue.”
July 8PiCKMaximizing Ethereum Compatibility... Taiko (TAIKO) Accelerates Reinforcing Layer 2 Identity
Taiko (TAIKO), the first Based Rollup project in the Ethereum (ETH) ecosystem, is accelerating efforts to strengthen its identity as a 'true Ethereum Layer 2.' Taiko prioritizes close integration with Ethereum over expanding its own ecosystem, and it is distinguished by designing its sequencer architecture to be thoroughly decentralized. Notably, Taiko recently officially launched its decentralized autonomous organization (DAO) and has been gradually transferring key protocol authorities to the community. In this process, it has been conducting inspections of on-chain systems such as governance bodies while focusing on building a community-driven ecosystem. Ethereum has long shown scalability limitations. As on-chain transaction demand surged, fees skyrocketed and transaction delays repeated, prompting the emergence of numerous Layer 2 solutions as remedies. However, many projects have focused on expanding their own ecosystems rather than technical integration with Ethereum, resulting in side effects such as sequencer centralization and network fragmentation. Taiko has taken a different approach from these trends. Its core differentiation is the adoption of identical architecture, interface, and account structure with Ethereum, so developers experience virtually no difference between Taiko and Ethereum. In particular, Taiko rigorously upholds decentralization principles in its sequencer architecture. Instead of a centralized operator model, it is designed to allow anyone to participate as a sequencer, ensuring decentralization. The structural consistency and transparent consensus with Ethereum's main network are seen as factors that reinforce Taiko's position within the Ethereum ecosystem. Through expanded open-source contribution, infrastructure enhancement, and on-chain governance experiments, Taiko is also accelerating its community-centric operations. The introduction of preconfirmation to the mainnet is also imminent. Preconfirmation is a function that guarantees transaction inclusion and ordering to users in advance, aiming to improve the inefficient finality procedures of rollups and enhance user experience. This demonstrates that Taiko is focused not only on technical performance, but also on improving real user experience. Taiko is dedicated to building a developer-friendly environment. By offering a structure that enables seamless use of the Ethereum development environment without complex bridging processes, it minimizes learning overhead and lowers barriers to entry for developers. For developers building decentralized services on Ethereum, Taiko is emerging as an attractive option. The structure enabling instant application deployment without additional processes is why Taiko is referred to as the 'optimal Layer 2 for Ethereum compatibility.' According to blockchain research company Populus, "Taiko is not a project that merely touts high transaction speed or low fees," adding, "It is an exemplary case of achieving scalability within a structure that is true to Ethereum's philosophy." They continued, "Taiko, with complete compatibility, open infrastructure, and decentralized sequencer architecture, is expected to realize community-driven governance," and, "This can contribute to the ecosystem as a true Ethereum Layer 2."
July 6GeneralTrump: "Tariff Notices Will Be Sent to Each Country Starting Friday"
Donald Trump, the President of the United States, announced that he will send official notices to each country specifying the tariff rates on U.S. exports and imports. According to Reuters on the 3rd (local time), President Trump, before departing for Iowa, told reporters, "Starting from the 4th, we will begin sending letters regarding tariffs to several countries," adding, "Notices will be sent to around 10 countries." He continued, "How many among over 170 countries can we negotiate with? It is very complicated," emphasizing his preference for a uniform tariff notice approach. He mentioned that the tariff rates stated in the letter would be "in the range of 20% to 30%." This measure is interpreted to mean that the United States intends to unilaterally set and notify tariff rates for most countries without separate negotiations. President Trump stated that, following the announcement of a bilateral trade agreement with Vietnam the previous day, he would continue individual negotiations with certain countries. However, for most countries, he said he would choose to impose tariffs directly without negotiations. Previously, senior officials of the Trump administration set a goal in April of "pursuing trade agreements with 90 countries within 90 days," but experts have been skeptical considering past trade negotiations.
July 4PiCKUS Ethereum Spot ETF Sees $148.21 Million Net Inflow...Turns Positive in Just One Day
The United States Ethereum (ETH) spot ETF market returned to net inflows within a single day. As of the 3rd (local time), a total of $148.21 million flowed into the Ethereum ETF market, which had shown slight outflows until the previous day. According to data from TraderT, BlackRock's ETHA saw an inflow of $85.01 million, while Fidelity's FETH received $64.65 million. In contrast, Grayscale's ETHE experienced an outflow of $5.35 million. No net inflows or outflows were recorded for the other ETFs. Currently, Ethereum is being traded on the Binance Tether (USDT) market at around $2,570, up approximately 0.7% from the previous day.
July 3PiCKUS Spot Bitcoin ETF Sees Net Inflow of $603 Million
A total of $603 million flowed into the US spot Bitcoin Exchange-Traded Fund (ETF) market. This marks the second consecutive trading day of net inflows. According to data from TraderT on the 3rd (local time), the product that attracted the most capital on this day was Fidelity's 'FBTC', which recorded a net inflow of $237.13 million. BlackRock's 'IBIT' followed with an inflow of $225.59 million. Next, ARK Invest's 'ARKB' saw $114.25 million, and Bitwise Asset Management's 'BITB' had $15.53 million. Grayscale Investments' 'GBTC' saw no net flow of funds, while 'BTC' received $5.84 million. VanEck's 'HODL' also recorded an inflow of $4.66 million. In contrast, Invesco's 'BTCO', Franklin Templeton's 'EZBC', Valkyrie Investments' 'BRRR', and WisdomTree's 'BTCW' had no net inflows or outflows.
July 3PiCKUS House accelerates digital asset legislation... 'Crypto Week' begins on the 14th
The US House of Representatives is expected to accelerate legislation related to digital assets. To this end, a week will be designated as 'Crypto Week' starting on the 14th (local time) to process key bills. According to Decrypt on the 3rd (local time), Republican Representatives French Hill, chair of the House Financial Services Committee, and GT Thompson, chair of the House Agriculture Committee, announced in a joint statement that the following three main bills would be the focus during 'Crypto Week': △CLARITY Act (digital asset market structure bill) △Anti-CBDC Surveillance State Act △GENIUS Act (stablecoin regulation bill). Representative French Hill said, "For years, we have been pursuing legislative activity on digital asset regulation, and now we are able to push forward bills that provide consumer protection and a clear regulatory framework," adding, "These bills include provisions that fundamentally prohibit the Fed from issuing a CBDC." Representative GT Thompson also commented, "We have repeatedly heard the market's demand for a clear regulatory regime for the digital asset ecosystem," and emphasized, "The digital asset market structure bill, prepared jointly by the House Financial Services and Agriculture Committees, will provide that answer."
July 3PiCKiM Bank files 12 trademarks related to Korean won-based stablecoins
iM Bank has filed a large number of trademarks in anticipation of issuing a Korean won-based stablecoin. On the 4th, iM Bank announced that it had filed a total of 12 trademarks with the Patent Office, including 'iMKRW', 'iMST', and 'KRWiM'. The trademarks combine 'KRW', representing the Korean won, with the new company name 'iM', which was adopted in place of the former DS Savings Bank. Previously, iM Bank joined the Open Blockchain & DID Association (OBDIA) and became a member of the stablecoin division. Through the trademark filings, iM Bank aims to prepare for future legislation related to won-based stablecoins and to secure digital asset technologies as part of its digital financial services strategy. An iM Bank official stated, "We filed the trademarks to proactively respond to the trends in the won-based stablecoin market," adding, "We will closely review relevant bills and market conditions to establish responsive strategies going forward." Meanwhile, major financial institutions and fintech companies are also actively filing trademarks in this area. Currently, KB Kookmin Card, Danal, Industrial Bank of Korea, Shinhan Financial Group, Shinhan Card, Toss Bank, Naver Pay, Kakao Pay, Kakao Bank, KB Kookmin Bank, and Hana Bank have registered or applied for trademarks that appear to be related to Korean won-based stablecoins.
July 3GeneralDeFi Project 'WhiteRock' Founder Reportedly Arrested… Suspected Involvement in ZKasino Scam
Investigative authorities in the United Arab Emirates (UAE) have reportedly arrested Ildar Ilham, the founder of the decentralized finance (DeFi) project WhiteRock Finance, on charges of fraud. Ilham is alleged to have been involved in an investment scam via the controversial decentralized gambling platform ZKasino, amounting to approximately $30 million (about ₩40.8 billion) last year. On-chain analyst ZachXBT stated on the 3rd (local time) on his X (formerly Twitter) account that “Ilham's arrest is directly linked to the ZKasino-related investigation.” ZKasino, at its launch in April 2024, promised users an airdrop of its native token, but even after a year, this has yet to be fulfilled. Following related media reports, WhiteRock’s native token 'WHITE', which had been trading at $0.00065, plunged more than 40% in a single day, dropping below $0.0004. In response, WhiteRock stated, “The reports of Ilham’s arrest are clearly false information,” and added, “Ilham was not arrested and is currently continuing to work normally in preparation for the product launch.”
July 3GeneralCoinone Holds 'Relay Trading King Ranking Competition' for Three Types of Stablecoins
Coinone, a South Korean cryptocurrency exchange, announced on the 4th that it will be holding a Trading King Ranking Competition event for three types of stablecoins (USDS・USDC・USDT). The Relay Trading King Ranking Competition is an event where participants compete against each other for trading volume in each asset category, with large prize money at stake. The USDS Trading King Ranking Competition will be held from 10 a.m. today until the 8th. To participate, users must register the event code (2507USDS) during the period and trade USDS. Rankings can be checked in real time on the Coinone Ranking Board. At the end of the competition, a total of 2,000 USDT will be distributed in varying amounts to the top 100 traders by transaction volume. Subsequent ranking competitions for USDC and USDT will also be held sequentially. For the two trading pairs, USDS and USDC, reduced trading fees are also being offered. Until further notice, the maker fee for USDS and USDC pairs will be 0% and the taker fee will be 0.1%. For Open API trading, which cannot participate in the Trading King Ranking Competition, a maker fee of 0% and a taker fee of 0.02% will be applied. For transactions made through external services or partner integrations, or for automatic trades made with Coinone Smart Trading, the regular fee rate of 0.2% will remain unchanged. A Coinone marketing representative stated, "As interest in stablecoins has been increasing recently, we planned this event to provide an opportunity for users to become more familiar with various stablecoins through trading experience," adding, "Take advantage of both the benefits of participating in the relay ranking competition and the exceptional trading fee reductions."
July 3GeneralBitcoin investor consortium seeks to acquire Thai-listed company 'DV8'… "Introducing strategy strategy"
A consortium composed of Bitcoin (BTC) investors has initiated an acquisition of DV8, a company listed on the Thai stock exchange. The consortium plans to actively introduce the so-called 'strategy strategy,' which involves incorporating Bitcoin into the company's balance sheet. According to Decrypt on the 3rd (local time), the consortium is currently pursuing a Voluntary Tender Offer to secure more than 75% of DV8's shares. DV8 is a retail company headquartered in Bangkok, Thailand. Once the acquisition is completed, it is expected that a Bitcoin-centric strategy will be implemented throughout DV8's financial structure under the consortium's leadership. UTXO Management, Sora Ventures, and Cliff Capital are participating in the consortium, and Simon Gerovich, CEO of Metaplanet, has also joined as an individual investor.
July 3GeneralUS SEC to Review Decision to Approve Grayscale Fund ETF Conversion
The U.S. Securities and Exchange Commission (SEC) has temporarily suspended the decision to approve the ETF conversion of Grayscale Digital Large Cap Fund (Grayscale Digital Large Cap Fund, GDLC). On the 1st (local time), the SEC stated in a public notice sent to the New York Stock Exchange that "The Division of Trading and Markets promptly approved the listing under delegated authority, but the Commission subsequently decided to review the matter at the Commission level." As a result, the approval will be suspended until the Commission’s final decision is made. Previously, the Division of Trading and Markets approved a rule change allowing the listing and trading of GDLC shares, which consist of Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA). Grayscale expressed its dismay at the decision. The Grayscale spokesperson said in a statement, "We did not anticipate this decision from the SEC," adding, "We will work closely with key stakeholders to continue the push for the listing of the GLDC."
July 3PiCKLee Chang-yong warns of 'won stablecoin and capital outflow concerns' at ECB forum
Concerns raised about stablecoins at ECB forum 'May cause capital flight... Need for discussions with the government' Central bank governors from various countries also agreed Lagarde: 'Privatization of currency threatens monetary sovereignty' Bank of Korea Governor Lee Chang-yong expressed concerns about privately led issuance of a won-based stablecoin in discussions with other foreign central bank chiefs. At the ECB’s annual monetary policy forum held in Sintra, Portugal, on the 1st (local time), Governor Lee was the first to respond to a question about whether stablecoins should be prioritized over central bank digital currencies (CBDC), warning that issuing a won stablecoin could lead to capital outflow. He noted, "If a won-based stablecoin is permitted in an unregulated environment, it could accelerate a switch to dollar-based stablecoins," adding that "this can trigger capital flight and weaken Korea's capital inflow and outflow regulations." He continued, "Recently, with the passage of the 'Genius Act'—a stablecoin regulatory bill—in the U.S., demand for dollar-based stablecoins has soared. As a result, fintech companies and proponents of stablecoins in Korea are increasingly calling for the issuance of won stablecoins." He explained, "Although we are running pilot projects with commercial banks for tokenized deposits within a permissioned network, issuing stablecoins on public networks is a completely different issue. This goes beyond the authority of the Bank of Korea, making close discussion with the relevant ministries necessary." He also expressed skepticism about the stability and effectiveness of stablecoins. Governor Lee said, "There are claims that blockchain technology is effective for anti-money laundering and illegal transaction detection, but it is unclear to us whether this can actually be implemented." He added, "Because there are structural issues such as narrow banking (banks with payment and settlement functions only, without lending) and impacts on monetary policy, there is a need to discuss institutional solutions with the government." Major central bank governors attending the forum raised similar concerns. Andrew Bailey, Governor of the Bank of England (BOE), said, "Since stablecoins claim to function as money unlike Bitcoin, they must actually meet the conditions of money. If they fail to maintain nominal value and serve as a means of exchange, it is difficult to accept them as money." ECB President Christine Lagarde pointed out that stablecoins can compromise the independence of monetary policy. She said, "We are currently facing a situation where the concepts of money, payment means, and infrastructure are becoming blurred due to technology. Money is a public good, and it is the responsibility of the central bank to protect it. If such concepts become blurred due to stablecoins and 'privatization of currency' occurs, it can damage a country’s ability to carry out monetary policy and threaten its monetary sovereignty." Jerome Powell, Chair of the U.S. Federal Reserve (Fed), also said, "I share the aforementioned concerns," but added, "It is positive that discussions on stablecoin regulation are underway in the U.S." He continued, "With cooperation between the Republican Party and Democratic Party, meaningful progress has been made on (stablecoin regulation)," and added, "If we are to embrace stablecoins, a corresponding regulatory framework is essential." Hwang Doo-hyun, BloomingBit reporter cow5361@bloomingbit.io
July 1PiCK