World Liberty Financial (WLFI), led by the Trump family, is reportedly pursuing a large-scale fundraising effort. According to Unfolded on the 9th (local time), World Liberty Financial is confirmed to be in the process of raising $1.5 billion (approximately 2 trillion won). Specific issuance methods or terms have not yet been disclosed.
Russian President Vladimir Putin reportedly delivered a comprehensive proposal for a ceasefire in the Ukraine war to U.S. President Donald Trump. According to The Wall Street Journal (WSJ) on the 8th (local time), European and Ukrainian officials familiar with the matter said, "President Putin of Russia has presented the Trump administration with a comprehensive proposal for a ceasefire with Ukraine. This includes the transfer of Ukraine's eastern region to Russia and a condition that the international community recognize Russia's sovereignty over these territories." Meanwhile, President Donald Trump announced plans to hold a summit with Putin in Alaska on the 15th. The detailed agenda and exact location of the meeting have not yet been disclosed.
Last month, investments raised by virtual asset (cryptocurrency) projects exceeded $2.6 billion. According to DeFiLlama data cited by CryptoSlate on the 9th (local time), the amount of investment raised for virtual asset projects in July was $2.67 billion (about ₩3.6 trillion), a 6% increase compared to June. This figure represents 85% of the total funds raised in the second quarter of this year. In particular, the token presale of Pump.fun approached $1 billion, making a significant contribution to the increase in investment funds in July.
U.S. President Donald Trump has officially announced the schedule for a U.S.-Russia summit with Russian President Vladimir Putin. On the 9th (local time), Trump stated via his Truth Social that "the long-anticipated summit between myself, as President of the United States, and Russian President Putin will take place next Friday (the 15th) in the state of Alaska, USA." Trump also added that further details about the summit would be disclosed at a later date.
As the supply of Ethereum (ETH) increases, staking is reported to be controlling the selling pressure. On the 8th (local time), Carmelo Alemán, an author at CryptoQuant, stated, "As of the 8th, Ethereum's supply surpassed 121 million ETH, marking a historic milestone. Currently, Ethereum consistently issues 2,500 to 3,000 new ETH per day, and despite recent upgrades, the rate of supply increase has not slowed." The author highlighted that a significant amount of ETH is locked in staking contracts, making it unlikely to be immediately released to the market. As a result, newly issued ETH and staked amounts are balancing each other, curbing a surge in circulating supply. The total supply on the Ethereum network, including staked ETH, amounts to approximately 157.18 million. In conclusion, the author stated, "Thanks to the current increased supply, concerns over a decrease in Ethereum's value have lessened. Whether network activity can support this supply growth or whether excessive supply will lead to a price drop depends on future circumstances."
It has been analyzed that Bitcoin's recent upward trend is due to a supply shortage, but there are concerns of a sharp decline if whales decide to sell. On the 9th (local time), CryptoQuant contributor Arab Chain stated, "While Bitcoin has been reaching new all-time highs since June, market buy orders have actually decreased. Rather than new demand, the shortage of coins for sale is the main factor driving the price up." According to the author, from March to May, market orders surged around the $75,000 bottom as individuals and institutions made large purchases. However, since June, market orders have dropped significantly, and limit sell orders have also remained at notably low levels. This suggests that at current price ranges, there is little selling intent and that trading is centered on market orders, making the market more vulnerable to liquidity shocks. The author added, "Notably, whales who actively bought at the April lows now seem to be on the sidelines or partially selling some holdings. With whales' market order activity slowing down, sudden large-scale selling could trigger a short-term sharp decline," advising caution.
It has been confirmed that Harvard University and Brown University in the United States have invested in BlackRock’s Bitcoin (BTC) spot ETF 'IBIT.' On the 9th (local time), Eric Balchunas, a Bloomberg analyst, announced on X that “Harvard University and Brown University have bought BlackRock IBIT. In particular, Harvard currently holds the 29th largest amount among about 1,300 institutions.” He also said, “While the size of this investment is considerable by ETF market standards, it is negligible compared to Harvard’s total assets. Traditionally, university endowments have followed the 'Yale Model' and have avoided ETFs, but this investment is significant because it challenges that preconception.”
Binance has released its 33rd Proof of Reserves report. According to Binance’s Proof of Reserves report on the 7th (local time), as of August 1, user Bitcoin (BTC) holdings totaled 591,000, up 2.99% (17,100 BTC) from the previous month. In contrast, Ethereum (ETH) holdings decreased by 9.84% to 4,555,000, which means a drop of about 496,000 ETH from the previous month. For Tether (USDT), the total holdings reached 29,850,000,000 USDT, an increase of 0.87% from the previous month. This represents a rise of about 258,000,000 USDT.
According to the Token Mindshare (a metric quantifying the influence of specific tokens in the virtual asset/cryptocurrency market) 'Top Gainer' indicator from the AI-based Web3 search platform Kaito, as of the 7th, the top 5 keywords attracting the most attention in the virtual asset sector are Portal, Bonk (BONK), Sei (SEI), Tornado Cash (TORN), and Solana (SOL). The cross-chain infrastructure platform Portal, together with Kaito, is running the 6th week of the Portal Yapper community, which is thought to have contributed to increased online mentions. The day before, an event was also held in Korea for the Portal Yapper community. Bonk recently drew attention for burning around 30 billion BONK ($8.05 million) as fees from the meme coin issuance platform Letsbonk.fun. Currently, Bonk is trading at $0.00002431 on CoinMarketCap, up 2.43% from the previous day. Sei has gained popularity after MetaMask wallet announced support for the Sei network. At present, Sei is trading at $0.2887 on CoinMarketCap, up 2.95% from the previous day. Tornado Cash received attention as the trial verdict for its founder, Roman Storm, resulted in a guilty verdict for unlicensed money transfer, but a not guilty verdict for sanctions evasion. Previously, Roman Storm was indicted in 2023 for allegedly operating Tornado Cash, conspiracy to launder money, and sanctions violations. Meanwhile, Tornado Cash's token price is currently at $10.32 on CoinMarketCap, down 15.78% from the previous day. Solana recently made headlines as Solana Mobile began shipping its second smartphone, Seeker, to users in over 50 countries. Seeker previously recorded more than 150,000 pre-orders, and the SKR token dedicated to the Solana Mobile ecosystem will be introduced for the first time. Currently, Solana is trading at $167.19 on CoinMarketCap, up 2.42% from the previous day. In addition, investors are also showing interest in Sugartown, Pendle (PENDLE), Huma Finance, Opensea, and Pump.fun (PUMP).
As the price of Bitcoin (BTC) remains flat, its volatility indicators have also sharply decreased. According to the BVIV index from Volmex, cited by CoinDesk on the 7th (local time), Bitcoin's 30-day implied volatility dropped to 36.5%. This is the same level as October 2023 when Bitcoin was trading below $30,000. Implied volatility is calculated based on demand from the options market, and if demand for volatility hedging or speculation decreases, so does the index. The outlet analyzed, “Currently, there is no active demand for hedging being detected in the options market despite concerns over stagflation originating from the United States.”
Japan's largest financial group, SBI Holdings, is reportedly planning to launch the country's first Bitcoin (BTC) and XRP-linked Exchange-Traded Funds (ETF). According to NewsBTC on the 7th (local time), SBI plans to list the Bitcoin and XRP-linked ETF on the Tokyo Stock Exchange (TSE). Through this, institutional investors are expected to be provided with opportunities to invest in major virtual assets (cryptocurrencies). Meanwhile, SBI has previously introduced the 'Digital Gold Crypto ETF,' which invests in both gold and virtual assets. This product allocates 51% of the portfolio to gold and the remaining 49% to virtual assets, presenting a diversified investment model that combines traditional and digital assets.
It has been revealed that President Donald Trump of the United States has begun the interview process to appoint the next Fed Chair. According to Cointelegraph on the 7th (local time), Trump stated, "The interview process to appoint the next Fed Chair has officially begun," adding, "All the candidates are from Wall Street." Previously, Trump said, "The list of Fed Chair candidates has been narrowed down to three finalists, including two exceptionally talented 'Kevins.'" The two 'Kevins' he mentioned are assumed to be Kevin Hassett, Director of the White House National Economic Council, and Kevin Warsh, former Fed Governor.
As the price of Bitcoin (BTC) rebounded from its recent low of $112,000, the selling pressure from short-term holders (STH) taking profits has eased. According to a Glassnode report cited by Cointelegraph on the 7th (local time), the 'STH Spent Volume in Profit'—which tracks the proportion of coins sold in profit by holders with less than 155 days—currently stands at 45%, having fallen below the neutral line. The report states, "70% of STH supply is still in profit, and the profit/loss ratio of coins in motion is close to equilibrium," adding, "The market as a whole is in a ‘relatively balanced position’ similar to the mid-phase of the previous bull market."
Institutional demand for Ethereum (ETH) appears to be accelerating. On the 7th (local time), Nate Geraci, CEO of NovaDius Wealth Management, said on X, "Since early June, Ethereum spot ETFs and ETH financial strategy firms have each accumulated about 1.6% of the total circulating supply." Ethereum spot ETFs and financial strategy firms have thus acquired 3.2% of the total Ethereum supply.
The United States Ethereum (ETH) spot Exchange Traded Fund (ETF) continued its positive trend, recording a net capital inflow the previous day. According to Trader T on the 7th (local time), the US Ethereum spot ETF recorded a net capital inflow of $34.15 million (about ₩4.72 billion) the previous day. This marks two consecutive trading days of net inflows. Most of the inflow on this day was concentrated in BlackRock ETHA, with $32.41 million flowing in. In addition, Grayscale ETHE saw an inflow of $10.04 million, and 21Shares CETH recorded a net inflow of $0.37 million. On the other hand, Grayscale Mini ETH posted a net outflow of $8.67 million. The remaining products experienced no net inflow or outflow.
US Bitcoin (BTC) spot exchange-traded funds (ETFs) recorded net inflows exceeding $90 million the previous day. According to TraderT on the 7th (local time), US Bitcoin spot ETFs saw a net inflow of $91.52 million (approx. ₩126.7 billion) the previous day. This marks the first net inflow in 5 trading days since May 30. On this day, BlackRock IBIT recorded a net inflow of $41.9 million, Bitwise BITB had $26.35 million, and Grayscale GBTC posted a net inflow of $14.5 million. Additionally, Fidelity FBTC saw a net inflow of $10.06 million and VanEck HODL had $4.08 million. In contrast, ARK Invest ARKB recorded a net outflow of $5.37 million. There were no net inflows or outflows for the other products.
A mysterious whale or institutional investor has reportedly accumulated more than 147,000 Ethereum (ETH) over the past three days. According to Lookonchain on the 7th (local time), this whale acquired 147,591 ETH (worth approximately $54,166,000) through FalconX, Galaxy Digital, and BitGo in the last three days. About an hour ago, another new wallet was created, and it is understood to have received 11,062 ETH (worth approximately $40,740,000) from FalconX.
The daily transaction volume on the Ethereum (ETH) network has come close to its all-time high. According to Etherscan data cited by Decrypt on the 7th (local time), Ethereum’s daily transaction volume reached 1.87 million on the 5th, approaching the all-time high of 1.96 million set on January 14th. On this, Nansen senior researcher Jake Kenneth Nansen analyzed in Decrypt, "The increase in Ethereum transaction volume is being driven by the growing usage of stablecoins Tether (USDT), USDC, and the DeFi exchange Uniswap."
The Financial Services Commission (FSC) has begun analyzing overseas legislative cases related to stablecoins and frameworks for Anti-Money Laundering (AML). According to the industry on the 7th, the Korea Financial Intelligence Unit (KoFIU) of the FSC commissioned the “Research on Legislative Processes for Virtual Asset Phase 2 Law and Improvements to the AML System for Stablecoins” on the 6th. The research period runs until December 12, with a budget of ₩50,000,000. The FSC anticipates that stablecoins, once incorporated into regulatory frameworks, will be used as means of payment and for cross-border remittances. In this study, the FSC plans to overhaul the applicable AML and Countering the Financing of Terrorism (CFT) regulatory frameworks throughout the issuance, circulation, and redemption processes of both domestic and foreign stablecoins. A key focus will be a detailed analysis of the regulatory differences between stablecoins issued abroad and those issued domestically. Based on the results, the government intends to incorporate provisions related to stablecoins into the “Virtual Asset Phase 2 Law.”
The whale wallet flow indicator for XRP has turned 'sharply negative', raising the possibility of a correction. On the 7th (local time), CryptoQuant contributor The Enigma Trader reported, "The 90-day moving average (90DMA) of the XRP whale wallet flow indicator has shifted into a sharply negative territory, and outflows are being observed from large wallets. This is a similar pattern to what was seen in January and February, after which price corrections also followed the same indicator changes." He added, "Although the recent price correction of XRP is not severe, the direction of whale fund flows is noteworthy. In particular, unless there is a sustained net inflow of over 5 million XRP per day, it may be difficult to expect a positive reversal signal for the time being," he analyzed.
The first Solana (SOL) staking ETF in the United States recorded a net outflow the previous day. According to Farside Investors on the 7th (local time), the Solana staking ETF 'SSK' by REX Shares-Osprey saw a net capital outflow of $2.7 million (approximately ₩3.7 billion) the previous day.
<Today's Major Economic Schedule> ▶Thursday, 7th: △UK Interest Rate Decision (KST 20:00) △US New Unemployment Insurance Claims (Local Time 08:30, KST 21:30) <Today's Major Cryptocurrency Schedule> ▶Thursday, 7th:
Hashed, a global blockchain-focused investment firm, announced on the 7th that its subsidiary ShardLab has entered into a strategic partnership with the Thai digital asset exchange Bitkub. Through this partnership, the two companies plan to collaborate on the development of the Web3 ecosystem and business expansion in Thailand and Southeast Asia. Initially, both parties have established an official partnership for the Web3 talent development and acceleration program “Protocol Camp.” Protocol Camp is an acceleration program co-hosted by Hashed and ShardLab, aiming to identify and nurture Web3 startups from East Asia regions including Korea, Japan, Thailand, and Vietnam. Bitkub plans to contribute to the program in various ways, such as mentoring, ecosystem networking, and local market entry support. Additionally, ShardLab will participate as an official sponsor at “Bitkub Summit 2025,” a Web3 industry event that will take place in Bangkok, Thailand, in the latter half of this year. Through this event, ShardLab is set to showcase its global Web3 strategies and partnership achievements, including its stablecoin payment system, NFT ticket issuance, and wallet collaborations with leading domestic and overseas companies. Regarding the partnership, Seojoon Kim, CEO of Hashed, stated: "ShardLab is a key hub for Hashed’s global expansion strategy and aims to build a practical Web3 ecosystem in Thailand and Southeast Asia. This partnership with Bitkub is the first step—by leveraging both companies’ networks and capabilities, we expect to play a critical role in fostering innovative Web3 enterprises in the region." Suchart Pavasiriporn, CEO of Bitkub Labs, remarked: "We are delighted to create new opportunities for the Thai Web3 ecosystem through our collaboration with ShardLab. Bitkub will continue to provide unwavering support through strategic collaborations with promising projects, helping Thailand cement its position as the center of digital asset innovation in Asia."
U.S. President Donald Trump announced that he has narrowed down the candidates for the next Federal Reserve (Fed) Chair to a final three. According to the Kobayashi Letter on the 7th (local time), Trump said, "We have narrowed the Fed Chair candidates to the final three, and there are two very outstanding 'Kevins' among them." The two 'Kevins' mentioned by President Trump are presumed to be Kevin Hassett, Chairman of the White House National Economic Council, and Kevin Warsh, former Fed Governor.
Mary Daly, President of the Federal Reserve Bank of San Francisco, argued that the Fed should soon move to lower interest rates. According to O'Daily on the 7th (local time), President Daly said, "The impacts of a weakening labor market and tariffs are only a short-term threat to inflation. The Fed will soon need to cut rates." President Daly analyzed, "Even when there were no tariffs, inflation had been gradually declining. If slowing economic growth and restrictive monetary policy persist as they do now, prices will continue to fall." She added, "Tariffs may create short-term inflationary pressure, but the likelihood of those effects continuing in the long term is low."
Digital asset management firm Parataxis Holdings is set to list on the New York Stock Exchange through a merger with blank check company SilverBox Corp IV. According to Bloomberg on the 7th (local time), Parataxis has finalized its listing on the NYSE by signing a merger agreement with SilverBox. Through this transaction, Parataxis is expected to secure approximately $240 million in cash, of which $31 million will be immediately allocated for Bitcoin (BTC) purchases. Upon completion of the merger, Parataxis will have the authority to issue up to an additional $400 million in equity.
Donald Trump, former President of the United States, described Elon Musk—who he once had public conflicts with—as a "good person." According to Watcher Guru on the 7th (local time), Trump stated, "I think Elon Musk is a good person. He went through some really bad moments, but at his core, I think he's a good person." These remarks have sparked speculation that the relationship between the two has recently softened. Previously, Trump and Musk clashed over Trump's tax cut bill, 'One Big and Beautiful Bill, OBBB.' As a result, Trump threatened to suspend government contracts with Musk’s private companies.
As the possibility of introducing a Korean won-linked stablecoin increases, Toss has responded quickly. According to industry reports on the 7th, Viva Republica, which operates the mobile financial platform Toss, has recently formed a dedicated stablecoin task force (TF) and begun reviewing its business feasibility. This TF is operated under the leadership of Kim Kyu-ha, Chief Business Officer (CBO), with three Toss financial affiliates reportedly participating in the initial phase. Toss commented, "The participating affiliates may change during the process." Previously, Kakao also launched a group-level stablecoin TF in collaboration with KakaoBank and KakaoPay. As Toss also took similar action, the competition among fintech companies to take the lead in the Korean won stablecoin market appears to be intensifying.
The Chinese government is reportedly planning to allow the issuance of its first stablecoin. According to the Financial Times (FT) on the 6th (local time), the Chinese government plans to allow the issuance of the country's first stablecoin to promote the internationalization of the RMB and counter the dominance of the U.S. dollar. However, concerns from authorities about capital outflows are acting as a key factor delaying the spread of the technology. FT explained, "Chinese policymakers are noting that stablecoins are serving as a means to further solidify the dominance of the dollar. In response, they are accelerating the development of RMB-based digital assets." The article added, "However, within China's system, where financial control is central, finding balance between the spread of technology and financial stability is emerging as a challenge."
The United States is imposing strong trade pressure on all semiconductors imported into the country. According to Watcher Guru on the 7th (local time), U.S. President Donald Trump announced, in an effort to strengthen protections for domestic manufacturing, that "a 100% tariff will be imposed on all semiconductors imported into the United States." However, it is reported that semiconductor companies manufacturing within the U.S. will be exempt from this measure.