Crypto Assets market news today

Macroeconomic Policy

RAK Bank in the UAE partners with Bitpanda to launch retail Crypto Assets services.

RAK Bank, a traditional bank in the UAE, has partnered with the crypto platform Bitpanda to become the first traditional bank in the country to offer retail crypto services. Users can directly buy, sell, and exchange Crypto Assets in Dirhams through the RAKBANK mobile app, without needing to transfer to a third-party exchange. This service is currently being launched on an invitation-only basis and will be opened to more users in the future.

The Hong Kong Monetary Authority held a technical briefing on stablecoin regulation.

The Hong Kong Monetary Authority held a technical briefing today on the regulatory framework for stablecoin issuers, hosted by several senior executives. The Authority previously stated that it would release guidelines for the implementation of stablecoins this month, clarifying the core regulatory details. The first batch of stablecoin issuer licenses is planned to be issued within the year, with the number strictly controlled to single digits.

Bitmain plans to set up a factory in the U.S. by the end of the third quarter.

The world's largest mining machine manufacturer Bitmain plans to establish its first factory in Texas or Florida in the third quarter of this year, initially hiring 250 local employees. The first batch of production capacity will be released in early 2026, with full capacity achieved by the end of the year.

Institutional Dynamics

The founder of Bridgewater suggests allocating 15% to gold and Bitcoin.

Ray Dalio, the founder of Bridgewater Associates, suggests that investors allocate at least 15% of their investment portfolios to gold and Bitcoin to hedge against risks in the bond and stock markets. He believes that the macro risks of rising government debt in countries like the United States have not been fully absorbed by the market and could lead to significant declines.

CoinShares launches zero management fee SEI ETP

CoinShares has launched a new ETP product that offers direct investment opportunities in SEI, with no management fees and a 2% annual staking yield. This product is backed by SEI tokens and listed on the Swiss Stock Exchange, making it the first regulated investment tool for SEI.

FIS collaborates with Circle to provide stablecoin payment services.

FIS, a technology service provider for banks in the United States, announced a partnership with Circle to provide trading services based on USDC for financial institutions. FIS plans to integrate USDC into its liquidity platform, with an expected launch by the end of the year.

Project Progress

Omni Network launches Upbit Korean Won market

Upbit announces that Omni Network (OMNI) will be launched on the Korean won market, supporting Ethereum network trading.

Binance will launch ZRC/USDT and ESPORTS/USDT perpetual contracts.

Binance contracts will launch ZRCUSDT and ESPORTSUSDT perpetual contracts on July 29, both supporting up to 50x leverage.

Succinct Open Airdrop Registration and Announcement of Token Economics

Succinct airdrop registration is now open, closing on August 4th. The total amount of PROVE tokens is 1 billion coins, with the first round airdrop being 5%. Token distribution: 25% for the public and future incentives, 25% for the ecosystem and R&D, 29.5% for core contributors, 10.5% for investors, and 10% for foundation operations.

Data Analysis

The Bitcoin spot ETF had a net inflow of $157 million yesterday.

Yesterday, the total net inflow of Bitcoin spot ETFs was $157 million, with net inflows for three consecutive days. IBIT had the highest single-day net inflow, reaching $147 million. Currently, the total net asset value of ETFs is $153.19 billion, accounting for 6.52% of the total market value of Bitcoin.

CryptoPunks trading volume hits a new high

The trading volume of CryptoPunks NFTs exceeded $24.6 million last week, reaching a new high since March 2024. This is related to GameSquare's acquisition of Punk #5577 for $5.15 million.

Financing Acquisition

Fireworks AI discusses $4 billion financing

The AI cloud service startup Fireworks AI is negotiating a new round of financing with investors, with a valuation that may reach $4 billion, an increase of more than seven times compared to last year.

Coinbase plans to acquire the Indian exchange CoinDCX

Coinbase is in the final negotiation stage of the acquisition deal with Indian exchange CoinDCX.

Zodia Markets, a subsidiary of Standard Chartered, has completed a $18.25 million financing.

Zodia Markets, the encryption trading platform under Standard Chartered Bank, has completed a $18.25 million funding round led by Pharsalus Capital. The new funds will be used to expand into East Asia, Latin America, and the United States markets.